Indian steel tubes and pipe manufacturer JTL Industries Ltd has firmed up capital expenditure of $29 mn to ramp up capacities across its four plants to one mn metric ton per year from 586,000 mt per year at present.
The company’s product portfolio includes manufacture of electric resistant steel pipes and tubes, galvanised pipes and tubes and solar power module mounting structures. The expansion project will be completed by the end of 2025.
It is said that the capital expenditure will be funded from the $47 mn it has raised through preferential allotment of equity shares.
