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Indag Rubber gets nod to enter into pact with Elcom Systems

Indag Rubber has received an approval to enter into contract (s)/ arrangement(s)/ transaction(s) with Elcom Systems (P), for sublease of State-of-Art Maintenance, Repair and Overhaul (MRO) facility at Bhiwadi (Rajasthan) to be constructed in two phases with estimated capital cost of Rs 30 crore admeasuring 1,50,000 square feet for a lease period of 9 years 6 months, with lock-in-period of 9 years from the financial year 2019-2020 and onwards on a monthly rent of Rs 36 per square feet (basic rent of Rs 20 per square feet and rent premium of Rs 16 per square feet) which shall be increased by 12% after every 3 years.

The Board of Directors of the company in their meeting held on January 15, 2019, approved the same.

Indag Rubber pioneered the introduction of cold retreading technology in India. The company offers complete range of application specific tread patterns for transportation industry with cost effective tyre solutions.

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