India’s Vibhor Steel Tubes Limited (VSTL) is setting up a greenfield pipe making facility in the eastern state of Odisha to ramp up its total installed capacity to 341,000 mt per year, a company official said on Wednesday, March 27.
VSTL already operates two steel pipe making units at Telangana in the south and Raigad in the west, with a combined installed capacity of 221,000 mt per year.
The Odisha plant is scheduled to go into production in 2024-25, the official said.
On the expansion plan, the official said that the company has already acquired the land for the project, and orders for plant and machinery have been placed. It will be funded through internal accruals but he did not disclose the investment details due to regulatory obligations as the company is in the process of listing its shares on stock exchanges.
VSTL manufactures steel products such as electric resistance welded pipes, hot dip galvanized pipes and hollow section pipes.