This is some thing I always wanted to have. Now I found that people have been able to make it finally.
Thanks to Hack-A-Day[Article:How-To: The Hacker’s Soldering Station] for giving such a nice tutorial to make a cool stuff as this. It sure looks geeky but is extremely easy, believe me!
I have started to build it. I will post the updates on the progress soon.
First I would try to get some thing similar to the Bucket that's seen in the picture. I have checked out several stores here at Bangalore but unable to get something that's big enough. Well I'll keep on searching for now. I will try to make this more Bharthya(Indian) so that may people can adopt it. Till then stay tuned,