Indian steel tubes and pipe manufacturer JTL Industries Limited has firmed up capital expenditure of $29 million to ramp up capacities across its four plants to 1 million mt per year from 586,000 mt per year at present, a company statement said on Tuesday, June 13.
The company’s product portfolio includes manufacture of electric resistant steel pipes, black steel pipes and tubes, galvanized pipes and tubes and solar power module mounting structures.
The expansion project will be completed by the end of 2025, the statement said.
It said that the capital expenditure will be funded from the $47 million it has raised through preferential allotment of equity shares.