Modulex India to set up Rs. 100-cr unit in Pune.

Modulex India, a modular building construction company incubated by Red Ribbon Advisory Services (RRAS), said it will invest Rs. 100 crore to set up a modular building construction factory in Pune.

Poised to be the world’s largest and India’s first steel modular factory, Modulex expects to create approximately 1,000 jobs in India by 2017.

The company, built on a 40 acre land, will start production in March 2017.

Ajay Palekar, Country Head, Modulex Modular Buildings, said, “The Indian construction market still has a long way to go in comparison to the global scenario. Modulex aims to take India to the next stage of real estate development by providing a jumpstart to the construction industry and bridging the demand-supply gap created by acute shortage of construction in the country. Modulex surpasses the traditional methods of construction by offering clients with numerous advantages, not limited by cost, time and savings.”

HBL