Now, an online platform for construction equipment

The Dollar Business Bureau

We believe this solution addresses a core problem of all construction companies. We are now in advanced stages of expanding IronTread’s strategic partnership with India’s largest infrastructure firms, says Atul Punj, Chairman, Punj Lloyd

  Acropolis Capital Group and Punj Lloyd are partnering with leading infrastructure companies in the region to develop Asia’s largest virtual equipment bank, IronTread, which will benefit the participants in renting, selling and buying equipment through an auction-led process. With the launch of IronTread, the first peer-to-peer equipment rental company in India, contractors will be able to access the real time idle-equipment of other contractors who have equipment available to rent but do not have a way of renting it out. IronTread will benefit both the equipment owners, who were earlier forced to either buy equipment or rent them from leasing companies at high rental, and renters, who were unaware of the rental demand due to lack of information. IronTread aims to enter into other related industries such as agriculture, municipal-renting and small-tool rental, and the potential geographies of the Middle East, Southeast Asia and Africa. The tool will also bring together the leading equipment financier to enable the purchases of used construction equipment. Once fully operational, IronTread will benefit renters in accessing an ever-expanding network of equipment owners they can rent or buy equipment from. In turn, equipment owners will have an advantage of connecting to their potential buyers through a single online platform. IronTread’s online platform will enable transactions through a live, reverse-auction bidding process. Such prices will be reduced further through a proprietary online reverse-auction bidding process. “We believe this solution addresses a core problem of all construction companies. We are now in advanced stages of expanding IronTread’s strategic partnership with India’s largest infrastructure companies who are also keen to become strategic partners,” said Atul Punj, Chairman, Punj Lloyd.    

November 25, 2015 |12:38pm IST