India’s Hi-Tech Pipes Limited will construct a new steel pipe and tube manufacturing unit along with a flat steel processing unit in the northern state of Uttar Pradesh, entailing an investment of $62 million, a company statement said today, Monday, January 9.
The company said that a memorandum of understanding (MoU) for the project was signed with the Uttar Pradesh government today.
The investment will be made in a phased manner but the company did not specify any timeline for the completion of the project.