Runaya Announces Commencement of Operations of Its FRP Rod Plant
To be a part of the 5G Value Chain and play a role in “Digital India.”
The new plant at Silvassa, with a capacity of 1 million kilometres, is among the largest of such facilities for FRP rods in the country to cater to the domestic and export markets
Mumbai (Maharashtra) [India], October 21: Runaya, one of India’s fastest-growing manufacturing start-ups, recently announced that its state of the art plant for the manufacturing of FRP (Fiber Reinforced Plastic) rods at Silvassa has started commercial production. The plant has a capacity to produce 1 million kilometres of FRP rods per year, building an Atmanirbhar Bharat as a significant portion of the demand is currently met through imports. Apart from meeting the domestic demand, Runaya will also cater to major Global OEMs (Original Equipment Manufacturers) and produce locally for the global market.
Runaya is targeting revenue of INR 100 crores for the FRP plant at the current full capacity and plans to double the capacity of the plant in the next year. Runaya has a commitment to Innovation and has set up an Innovation Centre at the plant to explore new products and applications that can benefit its customers. This expansion will primarily cater to value-added technological products such as ARP (Aramid-Reinforced Plastic) Rods, Flat FRP Rods and Rough FRP Rods.
Through the current facility, Runaya has been able to create significant direct employment as well as indirect employment in related industries. There is also a strong commitment to building a diverse and inclusive workforce, with over 65% of the workforce being women.
FRP Rods are an integral component of the telecommunications industry used to provide structural strength and protection to Optical Fiber Cables (OFC). The requirement and demand for FRP rods is expected to increase significantly with the advent of 5G technologies and its penetration and expansion in India. In line with global standards, Runaya has been able to secure the relevant product and system certifications for the plant within a short span of time.
Speaking on the commissioning of the plant, Naivedya Agarwal, Co-Founder, Runaya said, “At Runaya, we want to be at the forefront of manufacturing premium products through highly innovative processes, and advanced technologies and the FRP rods are another steps in that direction. The 5G technology rollout will accelerate the demand for Fiber Optic Cables, and we expect a huge market and demand for our product. We also see immense potential in the alternative use of FRP in other sectors like energy, automotive and construction, replacing conventional materials.”
Runaya’s vision is to deploy cutting edge technology to enable innovation, sustainability and efficiency improvement in the natural resources industry. Founded by Naivedya and Annanya Agarwal (sons of Vedanta Limited Vice-Chairman Navin Agarwal), the key focus is on executing projects that enable a circular economy and promote the concept of waste to wealth. In addition to ground support products, Runaya’s portfolio includes sustainability solutions for the aluminium industry, minor metals recovery, gas atomized metallurgical powders and other semi-finished products for the telecommunication cable and steel industries.