India's largest seamless tube producer The Indian Seamless Metal Tubes Limited (ISMT Ltd) and the government of the western Indian state of Maharashtra have signed a memorandum of understanding (MoU) for the company's expansion plans at Baramati.
According to the plans, ISMT will invest approx. Rupees 2.60 billion ($63.44 million) in the Baramati plant, creating an additional capacity of 320,000 mt per annum. The plant currently produces 155,000 mt per annum.