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Global conglomerate Punj Lloyd and Acropolis Capital Group have come together to create ‘IronTread’, India’s first online contractor-to-contractor equipment rental and sale marketplace for the construction and infrastructure industry. IronTread is India’s first peer-to-peer equipment rental company to be established with an aim to modify the way contractors make purchasing and rental decisions for construction equipments. IronTread would create an organized platform to provide contractors, in need of equipments, an access to the real time idle-equipment inventory of other contractors having equipments out to be rented.
Speaking on the launch of IronTread, Mr. Atul Punj, Chairman of Punj Lloyd said, “ Punj Lloyd is pleased to be a strategic partner of IronTread. We believe this solution addresses a core problem of all construction companies. We’re now in advanced stages of expanding IronTread’s strategic partnership with India’s largest infrastructure companies who are also keen to become strategic partners. This will allow IronTread to become, in short order, the defacto industry standard and Asia’s largest virtual equipment bank.”
Mr. Annat Jain, Managing Partner, Acropolis Capital Group, said, “We’re pleased to invest in IronTread. This is a great time to introduce innovation into the Indian construction market. We’re at the tail-end of a down-cycle in infrastructure development in India. As India emerges from this downturn, and the infrastructure industry takes center stage again, we’ll be positioned for rapid growth.”
IronTread would allow EPC contractors to avoid capital expenditures and retain asset-light balance sheets, and equipment owners increase the capacity utilization of their equipment by easily and safely renting to the universe of verified renters.