According to sources, the total investment of this project is around Rs 80 crore.

Manibhai and Brothers (MB Group) have set up a joint venture with the US company.

Spread over one lakh sq metres, Phoenix Varco Pruden (PVP) will produce world-class buildings, fully optimised for a wide range of applications anywhere in India in the shortest possible time, said a company release on Sunday. The buildings are well suited for applications like factories, warehouses, malls, airports hangars and other infrastructure facilities, the release added.

According to PVP Managing Director Malav Patel, this collaboration would redefine the Indian construction industry and create a breakthrough in terms of quality and speed.

“Our strength lies in detailed designing, totally integrated manufacturing and logistics, accurate project pricing, total framing flexibility and architectural freedom to work out various solutions for building aesthetics and functional requirements, thus providing desired versatility,” PVP Managing Director Malav Patel said.

The facility comes in the wake of a memorandum of understanding signed during the Vibrant Gujarat Global Investor Summit last year, Patel said, adding that another Rs 200 crore would be pumped into the project over the next couple of years for expanding manufacturing bases in other parts of the country.

PVP Joint Managing Director Dr V R Rajan said the facility had reaffirmed the company’s commitment to construction business in the field of high-end pre-engineered steel buildings. Already, orders worth Rs 100 crore have been received from over a dozen clients.

The plant has an installed capacity of 60,000 metric tonne per annum and in the first year, a target of achieving 40 per cent of this capacity is planned said PVP Joint Managing Director Dr V R Rajan.