ATV Projects India Ltd.
Snapshot View

ATV Projects India Ltd.

ATV Projects India, incorporated on February 26, 1987, is engaged in the business of executing turnkey projects. The company's manufacturing facilities are located at Mathura in Uttar Pradesh, Mumbai and Nagothane in the Raigad district of Maharashtra. The thermoplastic elastomer plant at Nagothane has been idle for over five years on account of non-availability of working capital. The company is sick industrial company and is registered with the Board of Industrial and Financial Reconstruction (BIFR).

Milestones:

1987 • The company was incorporated on February 26, at Mumbai with the object of taking over Anand Tanks & Vessels Pvt. Ltd, a company executing projects on a turnkey basis under a scheme of amalgamation.

• Anand Tanks & Vessels was amalgamated with the company effective September 28.

• The main object and activities of the company include fabrication and manufacture of full range of tanks and vessels for sugar and other industries, manufacture of effluent treatment and LPG bullets used for transportation of liquid petroleum gas and undertaking turnkey projects for petrochemicals, pharmaceuticals etc.

• As per the Bombay High Court order dated June 18, Anand Tanks & Vessels was amalgamated with the company, with effect from April 1.

• An agreement was signed with Ishiwakajima Harima Heavy Industries Co Ltd, Japan for expansion and modernisation of the Mathura works to undertake manufacture of equipment for high-tech process industries like petroleum, petro-chemical, power, fertilisers and for welding and fabrication of exotic metals.

• The company was selected as a joint co-promoter by the Pradeshiya Industrial and Investment Corporation of UP Ltd. (PICUP) for the setting up of a plant with a licenced capacity to manufacture 5,000 tonnes per annum of MMA monomer and 6,000 tonnes per annum of PMMA products. • In the power field, an agreement was signed with SEMT - Pielstick of France to produce and supply generating sets rated from 6 MW to 20 MW.

• As on September 30, the company's land, building, plant and machinery were revalued and the net surplus of Rs 16,649 lakh arising out of this was credited to the revaluation reserve.

1988 • The company installed additional facilities with respect to expansion of the main factory building, installation of additional equipments and improved site facilities. Also, in order to gear up the Mathura unit into a full-fledged in-house manufacturing facility, certain balancing and modernizing equipments were added.  

 1989 • The company signed a technical collaboration agreement with Dedini S.A Mettalurgica of Brazil for the manufacture of bagasse-based boilers, which are to be used in sugar plants. 

1990 • The company signed a technical know-how agreement with Filex Corporation, Houston, USA, for the manufacture of thermoplastic elastomers with a capacity of 20,000 tonnes per annum. Under the agreement, the collaborator was to supply the process, know-how, services of experts, training, start-up and commissioning assistance as well as assistance for the development, application and marketing for the product.

• The company acquires 50 acres of land at villages Balasai and Godsai near Nagothane in the Raigad district of Maharashtra.       

1991• The company entered into a fresh agreement under which it would act in consortium for the supply of equipment and services in respect of the orders negotiated by the French company with state electricity boards in India.

• ATV Projects entered into an agreement with a Dutch organisation -- Stock Industrial Engineering B V -- for the manufacture of three roller mills, which give a higher efficiency and output for sugarcane crushing in sugar plants.

• The company entered into a joint venture agreement for a project with two leading industrialists of Malaysia to set up an integrated sugar complex comprising sugar plantation, sugar mill and other related facilities. The joint venture agreement envisages that the company, as a foreign shareholder, will hold 50% of the equity capital of the new Company Gula Sabah Sdn. Bhd.  

1992 • The company undertook to set up a plant at Nagathane, Dist Raigad, Maharashtra for the manufacture of 20,000 TPA of thermoplastic elastomer, a product that finds application in industries such as footwear, automobiles, cables, adhesives, moulded luggage, etc. • Further expansion of compounding facility was proposed to be set up at Silvassa. Technologists of the project were trained at Applicazioni Plastiche Industrial spa, Italy.

• The company had set up a joint venture in the name of Gula Subah Sdn Bhd with two leading industrialists of Malaysia wherein the foreign shareholder was to hold 50% in the equity share of the joint venture. Pending certain clearances from the Malaysian government, further implementation of the joint venture was kept in abeyance.

• The company was promoted to undertake manufacture of 1,20,000 TPA of purified Terephthalic Acid at Chatha, Dist, Mathura, UP. 

1993 • The Mathura division manufactured two stage electrostatic desalter of 5.5 million tonnes capacity for Mathura refinery of the Indian Oil Corporation.

• Based on the technical know-how secured from Stock international, the division manufactured a roller crane crushing mill for a sugar factory in Akola.

• Project and construction division was expanded, all the systems were computerised and modernised and its capacity was strengthened to execute projects.

• The petro pipe division was being developed at the Mathura works.

1994 • After switching over to computerised design system. The project and construction division tied up with renowned engineering companies in the field of oil, gas and power for bidding and execution of international tenders.

• International division has been set up for global contacts. The first step is to enter into world market where products cycles are very short.

• The company undertook to set up its own TPE compounding unit at Nagothane, consisting of 5 lines and 15000 TPA capacity.

• The company undertook to set up a plant for manufacture of sugar and another for dairy products, 60 acres of land was acquired at Mant, UP

Business areas of the company:

The company undertakes conversion jobs for power plants, boilers, heat exchangers and other works, supplying equipment for several industries such as sugar, fertilizer, chemical, petrochemicals, steel, power, nuclear power, and allied industries by manufacturing equipment parts and components at its Mathura plant and executing the remaining parts at various sites of its clients.