Latest news with #JeetAdani
Economic Times
24-07-2025
- Business
- Economic Times
Adani to partner with MetTube for copper tubes business
Adani group flagship company will divest 50 per cent of its copper tubes business to MetTube, while simultaneously acquiring a 50 per cent stake in MetTube's Indian unit, the company said on two firms will collaborate to manufacture copper tubes used in air conditioning, renewable energy, and smart construction applications. "Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube)," the firm said in a statement."Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat," the statement is aimed at delivering next-generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their facilities, the Adani group firm said, adding that the alliance is aimed at reducing India's dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications. The company did not disclose financial details of the a part of the diversified Metdist Group, brings decades of global experience in manufacturing high-performance copper tubes. Adani Enterprises, through its wholly owned subsidiaries, has already established advanced copper manufacturing infrastructure in Mundra, Gujarat, including the greenfield copper tube facility under Kutch Copper Tubes Limited (KCTL)."The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions," the statement Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. "By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity - we are building capability.""India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation," Apurv Bagri, Chairman of Metdist Group, alliance leverages Adani's forward-integrated copper ecosystem - anchored by its 0.5 million tonnes per annum copper refinery project in Mundra - and MetTube's global manufacturing and marketing expertise. "This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs," the statement added.
NDTV
24-07-2025
- Business
- NDTV
Adani Enterprises To Partner With MetTube For Copper Tubes Business
New Delhi: Adani group flagship company will divest 50 per cent of its copper tubes business to MetTube, while simultaneously acquiring a 50 per cent stake in MetTube's Indian unit, the company said on Thursday. The two firms will collaborate to manufacture copper tubes used in air conditioning, renewable energy, and smart construction applications. "Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube)," the firm said in a statement. "Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat," the statement added. This is aimed at delivering next-generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their facilities, the Adani group firm said, adding that the alliance is aimed at reducing India's dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications. The company did not disclose financial details of the transaction. MetTube, a part of the diversified Metdist Group, brings decades of global experience in manufacturing high-performance copper tubes. Adani Enterprises, through its wholly owned subsidiaries, has already established advanced copper manufacturing infrastructure in Mundra, Gujarat, including the greenfield copper tube facility under Kutch Copper Tubes Limited (KCTL). "The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions," the statement said. Adani Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. "By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity - we are building capability." "India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation," Apurv Bagri, Chairman of Metdist Group, said. The alliance leverages Adani's forward-integrated copper ecosystem - anchored by its 0.5 million tonnes per annum copper refinery project in Mundra - and MetTube's global manufacturing and marketing expertise. "This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs," the statement added.
India.com
24-07-2025
- Business
- India.com
Gautam Adani's BIG move, this company to divest 50% of its business of…, and acquire 50% stake in…
Home Business Gautam Adani's BIG move, this company to divest 50% of its business of…, and acquire 50% stake in… Gautam Adani's BIG move, this company to divest 50% of its business of…, and acquire 50% stake in… The Adani group formed a new alliance to reduce India's dependence on imported copper tubes and build a robust domestic ecosystem for copper-based applications. Gautam Adani (File) Adani Group's flagship company will divest 50% of its copper tubes business to MetTube, while also acquiring a 50% stake in MetTube's Indian subsidiary, the company announced on Thursday. As part of the partnership, both companies will jointly manufacture copper tubes for applications in air conditioning, renewable energy, and smart construction. Adani To Partner With MetTube 'Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube),' the firm said in a statement. 'Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat,' the statement added. MetTube, a part of the diversified Metdist Group, brings decades of global experience in manufacturing high-performance copper tubes. Adani Enterprises, through its wholly owned subsidiaries, has already established advanced copper manufacturing infrastructure in Mundra, Gujarat, including the greenfield copper tube facility under Kutch Copper Tubes Limited (KCTL). 'The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions,' the statement said. Jeet Adani On Partnership With MetTube Adani Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. 'By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity – we are building capability.' 'India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation,' Apurv Bagri, Chairman of Metdist Group, said. The alliance leverages Adani's forward-integrated copper ecosystem – anchored by its 0.5 million tonnes per annum copper refinery project in Mundra – and MetTube's global manufacturing and marketing expertise. 'This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs,' the statement added. (With Inputs From PTI) For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on
News18
24-07-2025
- Business
- News18
Adani to partner with MetTube for copper tubes business
Agency: PTI New Delhi, Jul 24 (PTI) Adani group flagship company will divest 50 per cent of its copper tubes business to MetTube, while simultaneously acquiring a 50 per cent stake in MetTube's Indian unit, the company said on Thursday. The two firms will collaborate to manufacture copper tubes used in air conditioning, renewable energy, and smart construction applications. 'Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube)," the firm said in a statement. 'Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat," the statement added. This is aimed at delivering next-generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their facilities, the Adani group firm said, adding that the alliance is aimed at reducing India's dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications. The company did not disclose financial details of the transaction. 'The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions," the statement said. Adani Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. 'By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity – we are building capability." 'India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation," Apurv Bagri, Chairman of Metdist Group, said. The alliance leverages Adani's forward-integrated copper ecosystem – anchored by its 0.5 million tonnes per annum copper refinery project in Mundra – and MetTube's global manufacturing and marketing expertise. 'This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs," the statement added. PTI ANZ ANZ SHW view comments First Published: July 24, 2025, 20:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
22-07-2025
- Business
- India.com
Gautam Adani's BIG move, to spend Rs 960000000000 in…, what's business plan for next 5 years?
Adani Group's Airport Business Expansion: The Adani Group is aggressively expanding its airport business, with plans to invest nearly Rs 1 lakh crore over the next five years. The group, led by billionaire Gautam Adani, operates seven airports in India, including the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai. The Navi Mumbai International Airport is expected to be added to this list by October this year. Investment Strategy For Next Five Years Jeet Adani, 27-year-old son of Gautam Adani and head of the group's airport business, told the Times of India that the company has laid out a five-year plan involving investments of Rs 95,000–96,000 crore across airport infrastructure and real estate development. 'The majority of this investment will go into the Navi Mumbai and Mumbai airports, as well as real estate developments in both locations,' Jeet Adani said. Adani Group New Terminals Plan Adani Group also has plans to build new terminals over the next four years in cities like Ahmedabad, Jaipur, and Thiruvananthapuram, while the recently built terminal in Lucknow will be expanded. A new terminal in Guwahati is already ready and expected to become operational by October–November this year. Jeet Adani clarified that the group has no plans to expand abroad for now. 'We see tremendous opportunities within India and don't want to dilute our focus. At the end of the day, it's about our management bandwidth and where we want to deploy capital. India is poised for significant growth over the next 10–15 years,' he said. He also noted that 26 airports in India have already been identified for development under the Public-Private Partnership (PPP) model. Investment In Navi Mumbai Airport Adani Group has merged Phase 1 and Phase 2 of the Navi Mumbai International Airport (NMIA) project. Instead of launching with a 1 crore passenger annual capacity (CPA), it will now begin operations with a 2 crore CPA. The airport is being developed with an investment of Rs 19,000 crore, and work on Terminal 2 has already begun.
