Mumbai, Feb 15 (UNI) Jindal Saw Ltd today signed a memorandum of understanding with the Maharashtra government for a Rs 350 crore expansion project of its seamless tube manufacturing facility at Malegaon in Nasik district.
The company in a release here said that the capacity of the plant would be expanded to 220,000 tonnes from the current 75,000 tonnes.
The project is expected to be completed by August this year.
The company in a release said that the main equipment PQF mill (Precision Quality Finishing mill) with the state of the art technology is being imported from Germany and other supporting equipments are being procured from USA, China, South Korea and Austria.
The products basically cater to Oil and Gas Sector, Automobile Sector, Power Generation and varied Mechanical Components. Nearly 40 per cent of the products would be exported to the US, Middle East and South East Asian countries.
The MoU was signed by State Industries Secretary V K Jairath, and President&CEO Seamless Business (Nashik plant) Mr V S Konnur, in the presence of Chief Minister Vilasrao Deshmukh, Industries Minister Ashok Chavan, Minister of state for Industries Rana Jagjitsingh Patil.
Speaking on the occasion, Jindal Saw Limited's Managing Director Indresh Batra commended the Maharashtra Government's efforts of providing a congenial business atmosphere.
Mr Deshmukh said Jindal SAW had contributed immensely to the development of the state by setting up the plant in Malegaon.
UNI VK DB SM1812