Jindal Saw to expand capacity; invests Rs 350 cr

New Delhi, Feb 15 (UNI) Pipe maker Jindal Saw Ltd today said it will expand the capacity of its plant to 2,20,000 tonnes a year, with an investment of Rs 350 crore.

''We will expand our seamless tube making plant in Malegaon, Maharashtra for which we have signed a memorandum of understanding (MOU) with the state government,'' a company statement said.

The expansion will be completed by August, which will increase capacity to 2,20,000 tonnes a year, from the current 75,000 tonnes, it added.

The company's products mainly cater to the oil and gas, automobile, power generation and varied mechanical components.

''Exports to the US, West Asia and South East Asia account for 30-40 per cent products,'' the statement said.

A key player in the global energy and water infrastructure sector, Jindal Saw is one of the country's largest producers of SAW pipes, used widely for transportation of oil and gas.

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