Spanish bitumen products maker, Danosa will commission its first asphaltic plates unit in India jointly with Vadodara-based Tiki Tar Industries next month. The joint venture was announced in October last year to set up a manufacturing facility for bitumen-based waterproofing products at Halol near Vadodara.
The joint-venture is aimed at providing waterproofing solutions to infrastructure sector including housing, hospitality and corporate market segments. The new plant will manufacture around 10 million square meters per day of different varieties of asphaltic plates, which will be used on rooftops as well as in the base of the civil constructions.
"There is increased awareness among property buyers and corporate with regard to waterproofing of buildings in India. The market is growing and Danosa's advanced technology for bituminous waterproofing solutions will help us cater to the domestic as well as international markets," said Rajesh Shah, chairman and managing director of Tiki Tar Industries.
The company aims to export the products to the neighbouring countries including Bangladesh, Sri Lanka, Nepal and Singapore among others.
Currently, Tiki Tar has a total turnover of around Rs 200 crore, which it expects to increase to around Rs 250 crore after the commissioning of plant in April.
"The investment for the plant is not much. It is being erected at our existing premises in Halol. We have imported machinery worth Rs 7 crore from Italy. Within one year of commissioning, we expect 25 per cent of the revenues to come from the new segment," said Shah.
