Bangalore (Karnataka) [India], March 22 (ANI/NewsVoir): APL Apollo Tubes and Ornate Solar announced yesterday evening their strategic partnership to design, engineer, build & manufacture innovative structural solutions for India's Solar industry.
The new venture would complement the existing businesses lines of both companies with the objective to leverage the shared expertise in structural steel engineering and solar energy to build integrated energy solutions which can provide a redefined outlook to sustainable construction.
APL Apollo with its investments into DFT (Direct Forming Technology) are already revolutionising the steel construction industry with their unique ability to manufacture customised rectangular steel sections which can be engineered to save building costs by upto 15% and enable 3x faster construction for infrastructure projects.
With its core philosophy of 'Growing Faster by Building Faster' and a focus on continuous innovation, APL Apollo has captured 55% of the market share for Steel tubes across India and have won the trust of millions of consumers around the world.
Anubhav Gupta, Chief Strategic Officer of APL Apollo - speaking on the partnership with Ornate Solar at the 'Nayi Soch' Steel Building Solutions conference held in Bangalore, said, "APL Apollo has consistently pushed the boundaries of steel construction with new product launches & revolutionary thinking. We have been the first to introduce structural steel square & rectangular hollow sections upto 300 x 300mm; pre-galvanised (GP) structural steel tubes; Direct Forming Technology and hollow steel sections upto 500 x 500 mm. With InRoof we are now the first to launch an integrated solar roof for the pre-engineered building industry. This innovative product will use APL Apollo's existing products such as solar torque tubes and coated products. This is inline with our Strategy of creating new markets for our products."
"In Ornate Solar we saw the same core philosophies of innovation & sustainability which drive their design thinking to create new products. We're excited to see how we can continue to further disrupt steel construction with this partnership and the addition of these products into our catalogue of building solutions."
Ornate Solar is amongst the leading Solar Energy providers in India having worked closely with the largest renewable energy companies from Israel, Austria, USA and India to deliver 750+ MW Solar projects over the past 8 years.
The APL Apollo Ornate InRoof which was unveiled at the event is India's first Integrated Solar Roofing solution which can transform conventional solar panels into the primary roof for industrial sheds and commercial buildings. The patented assembly is completely rainproof and can be used for solar car parks, canopies and facades apart from roof integrated photovoltaic systems.
"We're excited to have this opportunity to bring indigenously designed & engineered products to the global Solar landscape through this association with the Sudesh Gupta group. For over three decades they have revolutionised the steel tubes manufacturing, and are role models for this generation's entrepreneurs on how to build a sustainable business," said Aditya Goel, Chief Executive Officer of Ornate Solar.
"This partnership is a significant step forward in our commitment to help build a greener, cleaner planet by bringing a sharper focus and renewed vigour to our strategic growth plans in this space," Arvind Jain, Chief Operating Officer of Ornate Solar said at the launch.
The venture expects to do Rs. 2,500 crore in revenues by FY27 and will need to hire about 250 engineering graduates by then. It will operate from the National Capital Region and house an innovation hub, a design centre for advanced technologies, as well as manufacturing facilities in other parts of India.
APL Apollo Group is India's largest manufacturer of steel pipes and tubes, with an annual capacity of more than 2.6 million tons and revenues of Rs. 13,000 crores (as of FY22). As a part of the SG Group, it caters extensively to India, and exports to over 20 countries globally. The company's vast distribution network is spread across the domestic region within warehouses and branch offices in 29 cities.
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