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Hi-Tech Pipes announces INR 510 crore investment for manufacturing unit in UP

The leading ERW pipe manufacturer plans to set up a mega manufacturing unit, which will support the company’s capacity expansion plans as well as uplift the company’s position in the steel tubes and pipes industry.

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Following Prime Minister Narendra Modi’s “Aaatmanirbhar Bharat” vision, Hi-Tech Pipes has taken the step to invest INR 510 crore in Uttar Pradesh for setting up a manufacturing facility. Under the Invest UP programme in the leadership of chief minister Yogi Adityanath, the Delhi-based company signed a Memorandum of Understanding (MoU) with the UP government, with the goal to set up a mega manufacturing unit for manufacturing of steel tubes and pipes as well as flat steel processing. Hi-Tech pipes stated that according to the MoU, the company will invest in a phased manner to set up the facility.

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Mr. Ajay Kumar Bansal, managing director of Hi-Tech Pipes, shared about the strong presence of the company in the state, and that the MoU will only strengthen the commitment to create more employment and business opportunities in the country’s most populous state. The favourable business environment as well as the incentives offered by the UP government will further help the company strengthen its place in the industry.

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