Hi-Tech Pipes To Invest INR 510 Crore To Set Up A New Manufacturing Facility

HT Bureau

GUWAHATI, Jan 10: Hi-Tech Pipes Ltd. has signed a Memorandum of Understanding (MoU) with the government of Uttar Pradesh for setting up a mega manufacturing facility of steel tubes and pipes and flat steel processing. The MoU was signed under the Invest UP Program of the state government under which the proposed investment will be Rs 510 crore which will be invested in a phased manner.

Commenting on the development, Ajay Kumar Bansal, managing director of Hi-Tech Pipes Ltd. said, “We are extremely proud and happy that the company has entered this MoU with UP government, Hi-Tech Pipes has a strong presence in Uttar Pradesh for more than three decades with our manufacturing facilities.

This MoU further reinforces our commitment to the state by creating more employment and business opportunities. This transaction will support the capacity expansion plans and strengthen our position in the steel tubes and pipes space.”