Visaka Industries Ltd will commission a ₹80-crore plant for Vnext range of cement board products near Coimbatore and a ₹50 crore manufacturing facility for roofing products in Rai Bareli by the year end.
“While the Coimbatore unit will be our fourth unit for Vnext products, the Rai Bareli facility will be the sixth for roofing solutions. Together, these two plants will add about ₹200 crore to the company turnover in a full year of operation,” Vamsi Gaddam, Joint Manging Director of Visaka Industries told BusinessLine.
“While the company passed through a tough phase due to Covid disruption, we managed to do well after the lockdown with volumes coming back to normalcy. Due to the demand for our sustainable products, we are adding these two plants,” he said.
“Given the growing focus on sustainable energy products, the company has finalised plans to set up a chain of retail stores and Atum-powered Electric Charging Stations,” he said. Atum is the company’s roof-integrated solar power system.
Vamsi Gaddam said, “We plan to invest about ₹50 crore in setting up 10 ATUMLife stores, EV stations and related new business areas of ATUMCharge and Vnext Solutions to augment our existing businesses and define a viable roadmap for our future. We continue to be driven by our sustainability ethos and our goal is to make Visaka a predominantly green company.”
“ATUMLife retail stores will offer fully sustainable, eco-friendly green products, deal with Vnext building material, ATUMsolar roof, and apparel made with sustainable yarn, electric vehicles and reusable kitchenware and cutlery,” he said.
While initially 10 charging stations will be set up across major metros, later we will partner with other companies and offer these solutions, he said.
Vnext Solutions with its range of Vnext fibre cement boards, which provide a sustainable alternative to gypsum and plywood, plans to offer turnkey building solutions from pre-fabricated buildings to interior furniture requirements.