Indian steel precision tube manufacturer Tube Investments of India Limited (TIIL) has firmed up plans to set up a greenfield production facility entailing an investment of $25.42 million, the company said in a statement on Tuesday, October 31.
The company said that its board of directors has approved the project to be located in western India and be entirely funded through internal accruals.
The new unit will be capable of manufacturing multiple ranges of precision tubes catering to demand from core industries like automotive, railways, construction and mining.