Inolight, a San Francisco-based startup, is taking a bold approach to the construction of an asphalt manufacturing plant in India.
The company, which has raised $1.3 billion from venture capital firms, has plans to produce asphalt in two phases, with a first batch of the material being sold for asphalt production in India by 2020.
The two phases are expected to be completed by 2021, and the first phase is expected to generate $200 million in revenue.
“This is our first big project,” said CEO, Arvind Pahwa, who co-founded Inolights founders Prakash Pahwani and Rahul Srivastava with a fellowship from Stanford University.
India’s transportation infrastructure is in dire need of improvement, and this is our way of taking this to the next level. “
The two phase model gives us a huge edge in the global marketplace and we are aiming to be able to produce this material in a way that will enable India to build the biggest asphalt plant in the history of the world.”
India’s transportation infrastructure is in dire need of improvement, and this is our way of taking this to the next level.
It will make India the largest asphalt producer in the entire world.
“Pahwa is a former vice president at McKinsey & Co. and co-founder of the Silicon Valley-based Inolighters startup company.
The three-phase process Inolighting is taking to manufacturing asphalt in India is expected be complete by 2021. “
It’s the best opportunity for India to become a global leader in the manufacturing of asphalt,” said Pahwat.
The three-phase process Inolighting is taking to manufacturing asphalt in India is expected be complete by 2021.
“Our plan is to manufacture around 100 million metric tons of asphalt in the next two years, or about one-third of the country’s total asphalt production capacity,” said Prabha Singh, the company’s CEO.
Pahwan said the company is planning to start selling its asphalt in four phases, in three phases with a final batch to be sold by 2021 or 2022.
The first phase will generate $100 million in sales revenue and will create 5,000 jobs, while the second phase will create 20,000 new jobs.
“By 2022, we will be able get our first-phase manufacturing facility up and running,” said Singh.
“From that point, we plan to grow the process in India.”
According to Singh, India has more than 7,000 km of roads and over 5,500 bridges that have been built in the past 50 years.
“A major part of the problem is that many of these roads are not maintained.
So, in the near future, we are expecting to build roads that are safe, modern, and of the highest quality.
The infrastructure for building these roads will be better and cheaper than in the US, Canada and Europe,” he said.
According to Pahwar, the first-and-only road to the global market will be the US.
“For India, the biggest obstacle is getting the infrastructure to match the quality of our roads.
We will need to focus on improving the road infrastructure in India as well, in order to meet the demand of the global markets,” he added.
The technology to make asphalt in a factory is still in its infancy, and there is a lot of testing and refinement that will have to be done to achieve the final product.
Pahwas said the initial prototype is being built at a factory in Chennai.
“There are a lot more technical hurdles to overcome before we are ready to ship this product to the markets,” said Srivas.