Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Maruti Steel Limited (MSL), an Indian manufacturer of steel pipes and tubes, would invest an estimated $24 million to expand its existing mill in the southern state of Andhra Pradesh, according to company sources.
They stated that the increased investment will increase the capacity for electric resistance welded (ERW) steel pipe production by 600,000 metric tonnes per annum (MTPA).
The company also intends to generate additional capital through the public offering of shares to finance the construction of new steel mills in northern India and Odisha in the east that will produce galvanised pipes, galvanised hot dip iron, and galvalume pipes.
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