How to achieve Cost Efficiency and Effectiveness and Increased Productivity through implementation of modern technology in Marble Mining sector for New Bagh Marble Industry Pakistan

Abstract

This Business Project is conducted in Marble industry of Pakistan. We believe that there is a lot of potential in this industry due to growing construction industry, hence we thought that an efficient business could earn greater returns. The methodology used for this project included both primary and secondary resources. Secondary data was collected through study of some articles and using internet. Whereas the Primary data was collected with direct interaction with people that were present at the organization. Introduction of a new machinery has been considered at Quarry as the business tend to lose most of its efficiency at the early stages of extraction through huge wastage. Wire Saw technology has been suggested which reduce the wastage by 40 to 50 percent and bring it down to 30% only. During the course of project a Projection of the Income statement has been developed which projects the Revenue that could be earned in the future after the implementation of the machinery. Assumptions were made for this purpose keeping into consideration the market condition of the Industry plus the general market trends. Considering the assumptions we able to identify that company becomes profitable after the first year and it is able to pay off all its expenses along with payment of debt and its interest. The payback period of the project is estimated to be 5 years and 10 months. Based on our study we able to conclude that the project is viable option for the business as would tend to earn good returns in the future. Further as the business grows it could further reduce its wastage by employing Chemical Technology for the purpose of extraction of marble which would make them more efficient in the future.