RSTL signed an MoU with the UP state government to invest INR 600 crore to set up its steel processing plant in the state.
Rama Steel Tubes Limited (RSTL) and the Government of Uttar Pradesh (UP) have signed a Memorandum of Understanding (MoU) to set up a steel processing plant in the state at a proposed investment of INR 600 crore. The overall investment shall be executed in phases.
The planned processing unit shall manufacture MS Pipes, STP Poles, GI Pipes, CR Coils, GP Coils, and Colour Coated Coils.
Richi Bansal, Executive Director of RSTL, accepted that MoU shall help the company to achieve its capacity expansion and industrial strengthening targets.
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RSTL is a manufacturing and trading company, dealing in steel pipes and related products, such as black and galvanized tubes and Electric resistance Weld (ERW). The company is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), under the name RAMASTEEL. The company’s scrip ended at INR 43, a decline of 1.15%, on February 13, 2023.