Maharashtra Seamless has announced that DP Jindal group, one of the largest producers of seamless pipes in India, is buying another seamless plant in Romania having a capacity of 200000 TPA in its flagship company, Maharashtra Seamless.DP Jindal group is one of the leading and prominent business houses in India in its line of business having a group turnover of Rs 3000 crore. The group is well diversified into manufacturing of seamless pipes, ERW pipes, wind power generation, offshore oil & gas drilling and projects exports. The group is also having a joint venture with tenaris, the largest manufacturer of seamless pipes in the world and also having a marketing collaboration with noble drilling, US, the second largest drilling company of the world, for Indian operations.
Seamless pipes are part of OCTG universe & the consumption of OCTG is driven by the oil & gas exploration and drilling activities both in India and globally. The activities are expected to surge at further heights in view of increased prices of oil and also increasing demand for energy requirements. This would enable the group to capture the maximum demand potential going forward and would lead to substantial growth in the businesses of MSL.
The company made this announcement during the trading hours today, 06 December 2007.
Powered byCapital Market - Live News