A virtual ceremony took place on 27th December, 2021 to announce a joint venture between Siam Cement Group and Bigbloc Construction Limited. This joint venture is to set up a strong relationship between Thailand's second largest company and also the largest and oldest cement and building material company, SCG and India's leading concrete brick and block manufacturing company Bigbloc Construction Limited, with a former having 48% stake and latter having 52% of stake in the JV, with a set up for manufacturing and distribution of the patented product AAC Block and panels in Gujarat. Mr. Narayan Saboo, Chairman, Bigbloc Construction Limited commented on the JV," It is a great honour for us and we are very excited to sign this JV with Siam cement group and welcome them to a country like India for their first capital investment. Moreover, we ourselves have experience of more than four decades in the state of Gujarat which has made us flourish over the years. We are beginning this journey from the state of Gujarat which is known as the biggest industrial state of the country and look forward to slow and steady growth with SCG in the upcoming year." Mohit Saboo, Director and CFO commented on the JV," This event marks a very important date to a process which began almost 2 years back and after countless discussion over innumerable team-meets we have been able to achieve this collaboration whereby SCG marks its first investment in India. In spite of the ongoing pandemic since the last two years we have been able to achieve this benchmark. Mr. Abhijit Datta, MD, SCG International, shared his remarks on the JV, "Today marks a very important milestone for all of us at SCG and it is our immense pleasure to be present here for this online event. We were deeply inspired by the government of India's Make in India policy. This JVA which we have signed together with our partner, Bigbloc Construction Limited, marks an important move by SCG to enter into the Indian building solutions market. This manufacturing plant will have a 250,000 m³ combined manufactured capacity to produce both ALC blocks and panels near Bigbloc's existing facilities in Ahmedabad. SCG International will arrange the required technical expertise both during the project as well as during the plant operations. We believe that the joint venture will benefit from the strong synergies between the two parties. Bigbloc has already been a reputed and established player in ALC Blocks and SCG will help drive and accelerate the smooth transition to innovative products. Both parties will work closely together to accelerate market adoption and to complete the project within one year's time so as to prepare for commercial launch within the last quarter of 2022. Going forward SCG will continue to focus on leveraging its knowledge and experience in order to help make a positive impact and create real value within the construction ecosystem in India.

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