Jindal Saw enters JV agreement with Buhur in Saudi Arabia
Jindal Saw
on Monday approved the incorporation of a step-down subsidiary in the UAE and entered into joint venture (JV) agreements to establish two new companies in
Saudi Arabia
.
The new UAE subsidiary will focus on setting up a pipe manufacturing facility with a capacity of 300,000 tons per annum (TPA) in Abu Dhabi. This facility aims to cater primarily to the oil and gas sector across the MENA region.
In Saudi Arabia, Jindal Saw Holdings FZE, a subsidiary of Jindal Saw, has partnered with Buhur for Investment Company LLC to launch a helically spiral welded (HSAW) pipe project. Additionally, a JV with RAX United Industrial Company will establish a ductile iron pipe manufacturing unit, further strengthening the company's footprint in the iron and steel industry in Saudi Arabia.
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All necessary government and regulatory approvals will be obtained to ensure smooth project execution, said the company in a statement.
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