Bihar Tubes to set up second plant near Mumbai

Bangalore, Oct 9 (UNI) Bihar Tubes limited, one of the top five tube manufacturing companies in the country, proposed to set up its second plant near Mumbai to increase the export capacity, its Managing Director Sanjay Gupta informed today.

Speaking to newspersons here, he said the company had also invested over Rs 15 crore during the last couple of years in modernising its original plant at Sicunderabad in Bulanshahar district of Uttar Pradesh.

Mr Gupta said the company had exported Rs 50 crore worth products last year mainly to the United States, the United Kingdom and other Eastern countries. It had achieved an average annual growth rate of over 80 per cent and for the second quarter of 2006-07, it had recorded a business turnover of Rs 114 crore. He exuded confidence that the turnover would reach Rs 250 crore by the end of March 2007 and Rs 350 crore in 2007-08.

He said the company had continuously raised its installed capacity from 24,000 MT five years ago to 100,000 MT now, thanks to a steady growth of over 80 per cent per annum.

To a question, Mr Gupta said the company enjoyed a market share of ten to 12 per cent in the country for all structural range of pipes.

The company had introduced pre-galvanised tubes for fencing and cabling for the first time in the country and successfully produced stainless steel pipes on high frequency induction welding at high speed, he added.

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