Latest news with #HSAW
Time of India
14 hours ago
- Business
- Time of India
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Doctors Beg: Take These 4 Ingredients Before Bed to Burn Fat Hollywood Today | Health Learn More Undo All necessary government and regulatory approvals will be obtained to ensure smooth project execution, said the company in a statement.
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Business Standard
5 days ago
- Business
- Business Standard
Man Industries share price zooms 6% in trade today, June 5; here's why
Man Industries share price: Pipe maker Man Industries shares jumped up to 6.05 per cent to hit an intraday high of 418.45 However, at 1:40 PM, Man Industries shares were off highs, and were trading 1.55 per cent higher at 400.65 per share. In comparison, BSE Sensex was trading 0.44 per cent higher at 81,355.06 level. Why are Man Industries shares buzzing in trade today? Man Industries share prices were buzzing in trade after the company announced that it has secured an order worth approximately ₹1,150 crore from an international customer. In an exchange filing, Man Industries said, 'We are pleased to inform you that the company has received a new export order for approximately ₹1,150 crore. This order is expected to be delivered during the next 6 to 12 months.' 'This order significantly demonstrates the robust strength and market credibility in global markets and highlights Man Industries' growing reputation as a trusted supplier in the international pipeline industry,' Man Industries highlighted. According to the order details, the company will be responsible for supplying different types of pipes to a respected international customer. Notably, the work is expected to be completed within the next 6 to 12 months. Man Industries' total unexecuted order book now stands at approximately ₹3,500 crore, including today's order. 'The start of the year is proving exceptionally strong for Man Industries, highlighted by the multiple orders totalling approximately ₹3,500 crore. These are testimonial to our steadfast focus on delivering product excellence and timely deliveries. We expect this momentum to continue during the year, such projects are also testament to the prowess of Man Industries and our cutting-edge technological capabilities,' said Nikhil Mansukhani, managing director of Man Industries. The development, Man Industries believes, marks yet another milestone in the company's journey toward expanding its global presence and serving strategic infrastructure and energy sectors worldwide. About Man Industries Man Industries, the flagship company of the Man Group, was established by the Mansukhani family in 1970. Under the leadership of R C Mansukhani, the group began its journey as an aluminum extrusions manufacturer in 1988 and has since evolved into a key player in the global line pipe industry. Today, Man Industries is one of the leading manufacturers and exporters of large-diameter carbon steel pipes—including Longitudinal Submerged Arc Welded (LSAW), Helically Submerged Arc Welded (HSAW), and Electric Resistance Welded (ERW) pipes. These products are widely used in high-pressure transmission applications across the oil & gas, petrochemical, water, fertilizers, dredging, and city gas distribution (CGD) sectors. The company operates three state-of-the-art manufacturing facilities. Two are located in Anjar, Gujarat—one equipped with two LSAW and two HSAW lines, and another focused on ERW pipe production (both API and non-API). The third facility is in Pithampur, Madhya Pradesh. Combined, these units offer an installed capacity of over 1.18 million tonnes per annum (MTPA). To diversify its product portfolio, Man Industries is investing around ₹600 crore to set up new capacities. This includes a stainless-steel seamless pipe manufacturing unit in Jammu and a new integrated line pipe and coating facility in Dammam, Saudi Arabia, aimed at serving the growing Middle East market.
Argaam
09-02-2025
- Business
- Argaam
East Pipes to set up SAR 48M production line for HSAW pipes
East Pipes Integrated Company for Industry signed contracts with different entities to establish a new production line for Helical Submerged Arc Welded (HSAW) pipes in the company's factory in Dammam 2nd Industrial City. The project, which costs nearly SAR 48 million, will be financed from the company's available cash, bank facilities, and other programs, the company said in a statement to Tadawul. Several entities and consultants were contracted to supply machinery and equipment for the new production line that will add about 100,000 metric tons to the current 400,000 MT nameplate capacity. The pipe manufacturer will embark on the project this month, it added, expecting it to be complete in Q4 2025/26. It also expects the relevant financial impact to show in Q1 2026/27. Trial production is likely to begin in Q4 2025/26 for one month. There are no related parties to the deal, the company noted, adding that any material developments will be duly announced.
