Maharashtra Seamless Ltd. (MSL), the flagship company of leading Indian seamless pipe maker D.P. Jindal Group, has announced the completion of the acquisition of a seamless pipe manufacturing facility called S.C. Republica S.A. in Romania which has an output capacity of 200,000 mt per annum.
The estimated total cost of the project which includes shipping the facility back to India, setting up infrastructure at a new location and the entire modernization process is Rupees 3 billion ($76 million).
The plant will reportedly be operative within two years.
In a statement on the issue, D.P. Jindal Group said that the acquisition is expected to enlarge the company's product and customer base as well as adding substantial growth in its business.