PNN
Chennai (Tamil Nadu) [India], December 26: AVP Infracon Limited (NSE: AVPINFRA), one of the leading infrastructure development companies, has announced a strategic step forward in its business expansion. The company, through its partnership firm where AVP Infracon hold 90% of M/S Kanthan Blue Metals, shares, has successfully acquired 23 acres of land to establish a state-of-the-art crusher unit. The land, located at SF No. 777/1A in Kambiliyampatty Village, Kangeyam Taluk, Tirupur District, was purchased for approximately Rs 13.18 Cr.
This move is part of a larger investment of Rs17 Cr, which includes the cost of the land and the development of the new crusher facility. The investment will be financed through a combination of external funding and internal accruals. The crusher unit is expected to be operational within six months, marking a significant milestone in the company's expansion strategy.
The establishment of the crusher unit is a strategic move aimed at ensuring a steady supply of high-quality blue metals, which are crucial raw materials for infrastructure development. This will not only support AVP Infracon's expanding project portfolio but also enhance its operational efficiency and cost control by minimizing reliance on third-party suppliers.
Commenting on the update, Prasanna Dhandayuthapani, MD of AVP Infracon Limited, said, "The acquisition of 23 acres of land and the establishment of a new crusher unit represents a pivotal step in our journey of growth and operational excellence. As a company committed to delivering high-quality infrastructure projects, we recognize the importance of having a strong and reliable supply chain for critical raw materials like blue metals. This investment will not only cater to the increasing demand arising from our expanding business portfolio but also allow us to exercise better control over the quality and availability of these essential inputs.
The crusher unit, expected to be operational within six months, reflects our commitment to scaling operations sustainably, optimizing costs, and supporting ongoing and future projects. This strategic step will strengthen our position as a key player in the infrastructure development companies and deliver long-term value to our stakeholders."
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)