BigBloc Building Elements receive eligibility certificate for Rs 27.14 crore subsidy, ET RealEstate
NEW DELHI: Bigbloc Building Elements, wholly-owned subsidiary of BigBloc Construction, has received eligibility certificate for subsidy of Rs 27.14 crore under package scheme of incentives – 2019.
The receipt of subsidy from Maharashtra is in relation to completion of the phase-I of the company’s AAC blocks project at Wada in Palghar. Total admissible subsidy will be for a period of 10 years with effect from May 1, 2023.
In April 2023, Bigbloc Building Elements completed the first phase of Wada project by establishing 2.5 lakh cubic meters per annum capacity of the AAC block.
Phase 2 of the Wada project is currently underway and company aims to receive the subsidy benefits post completion of the expansion. Phase 2 subsidy will be separate and over and above this subsidy. It is expected to be completed in the first quarter of financial year 2024-25. In Phase 2, company aims to double the production capacity of Wada plant to 5 lakh cubic meter per annum of AAC blocks
At full capacity, Wada plant is expected to generate revenues in excess of Rs 160 crore per year.
It has an installed capacity of 8.25 lakh cubic meter per annum. Company’s manufacturing plants are located in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra.
