Tube Investments of India Limited has announced to set up a greenfield precision steel tube manufacturing facility for INR 211 crore in western India.

Oct 31, 2023

Tube Investments of India Ltd has announced to set up a greenfield precision steel tube manufacturing facility at an outlay of INR 211 crore. The Murugappa Group company engaged in manufacturing precision steel tubes, said, “The manufacturing unit to come up in western parts of the country would be funded through ‘internal accruals. The Board has approved the establishment of a greenfield precision steel tube manufacturing facility in Western India at an estimated cost of INR 211 crore.” The project will be primarily funded through internal accrual and is expected to be completed in FY 2024 -25. The greenfield facility is proposed to be established to manufacture multiple ranges of products, the company added.