Modulex to set up 4 modular buildings factories in India

With a view to participate in the government's mission of housing for all by 2022, modular buildings company Modulex plans to set up four factories in India over the next five years.
The UK-based Red Ribbon Asset Management incubated firm is already setting up one factory in Pune and is now looking at expanding its manufacturing base across the country, with one facility each in the north, east and south, Modulex UK Chairman Suchit Punnose told PTI.
"The major challenge facing the construction industry here is lack of skilled labour, construction cost, time overruns and low value addition, productivity and quality.

"Our full fit-out steel modular technology to construct buildings will help bridge the demand-supply gap in the construction sector," he said.
Red Ribbon has set up an Indian subsidiary, Modulex India, which has invested Rs 100 crore to set up the first factory in Pune, which will be operational in 2017.
"Given the government's initiative of make in India, the country now has the potential to become a great manufacturing hub and through Modulex we hope to bring in highly advanced and sophisticated technologies from the developed part of the world and apply it here," Punnose said.
He said the company will further invest Rs 300 crore for setting up the other three factories over the next five years.

Punnose further said the company will be looking at projects from diverse sectors like hospitality, education, health, residential and defence.