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Ops of design & construction co Katerra India to be hit as parent faces closure

Business Line  

Facing tough times and prospects of closure, the Indian operations of Katerra, a Menlo Park (Silicon Valley)-headquartered design and construction company, are likely to be impacted, including the under-construction of an INR 700-crore greenfield plant near Hyderabad. Katerra, which attracted investments of about USD 2 billion from investors such as SoftBank, is on the verge of closure. Founded in 2015, the company, whose work included offsite completed 3D rooms, walls, columns, modular units and bathroom pods and buildings, had big plans for India. It set up a unit in Tamil Nadu and had announced its plans for a manufacturing facility for building components near Hyderabad on a 50-acre site.