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Aaron Industries Limited Updates on Construction Progress of New Manufacturing Unit

Aaron Industries Limited has issued an update on the construction progress of its new manufacturing unit, Unit-3, located in Surat, Gujarat. Despite significant progress, the project has faced unforeseen challenges that have necessitated an adjustment to the original timeline.

Update on Construction Progress of Unit-3

Project Background

On July 26, 2024, Aaron Industries Limited provided an update on the construction of its new manufacturing unit, Unit-3. This update follows previous communications to the National Stock Exchange of India Limited (NSE) dated October 13, 2023, January 25, 2024, and June 05, 2024.

Location:

• Block No. 251, Plot No. B-2, Royal Industrial Park, Village Moti Pardi, Taluka Mangrol, Surat - 394120, Gujarat, India.

Progress and Challenges

Current Status:

• Over 50% of the construction work for Unit-3 has been completed.

Challenges Encountered:

• Extended Monsoon Season: The construction site faced significant disruptions due to an unusually heavy and extended monsoon season, leading to waterlogging and impeding the progress of foundational and structural work.
• Labour Shortage: The monsoon conditions exacerbated the seasonal migration patterns, leading to a shortage of available labour, which further affected the productivity of the workforce.

Revised Timeline

Original Projection:

• The completion of Unit-3 was initially projected for July 2024.

Revised Projection:

• Due to the challenges faced, the new anticipated completion date is December 2024.

Mitigation Efforts:

• Accelerating certain construction activities.
• Securing additional labour resources to ensure timely completion.

Commitment to Stakeholders

Aaron Industries Limited is committed to keeping the stock exchange and its stakeholders informed of all significant developments related to this project, particularly regarding the commencement of commercial production or operations at the new unit.

Official Communication

The update was officially communicated by Nitinkumar Maniya, the Company Secretary & Compliance Officer of Aaron Industries Limited. The company has expressed its dedication to overcoming the challenges and completing the construction of Unit-3 within the revised timeline.

Contact Information:

• Company Secretary: Nitinkumar Maniya
• Company: Aaron Industries Limited

For further details and updates, stakeholders and interested parties are encouraged to visit the official Aaron Industries Limited website.

Conclusion: Despite the unforeseen challenges, Aaron Industries Limited is progressing steadily with the construction of its new manufacturing unit. The company's proactive measures to mitigate delays reflect its commitment to completing the project and commencing operations as planned.

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