Rama Steel Tubes initiates backward integration expansion project, to be completed by end of Q4FY25
The company in exchange filing said that the expansion is expected to be completed by the end of Q4 of FY25, post which commercial production will commence.
Rama Steel Tubes Ltd (RSTL), manufacturer of steel pipes and tubes and GI pipes, on Tuesday said it has initiated a strategic backward integration expansion to the tune of ~40,000 metric tonnes at its plant located at Khopoli, Maharashtra. The company in exchange filing said that the expansion is expected to be completed by the end of Q4 of FY25, post which commercial production will commence.
This will be in addition to the company's present installed capacity of 2,64,000 Metric Tonnes Per Annum (MTPA).
"RSTL projects a significant rise in the demand of special grade, high thickness steel in the coming years. The additional capacity of ~40,000MTPA will allow us to cater to the increasing demand, thereby allowing us to scale our topline and bottom line in an efficient manner,” Richi Bansal, whole-time Director & Chief Executive Officer, Rama Steel Tubes Limited.
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As per the statement, the project is aimed to be completed at an investment of Rs 300 million (Rs 30 crore) to be funded through internal accruals.
RSTL has a subsidiary in UAE and a step-down subsidiary in Nigeria which has strengthened the company’s presence in global markets. RSTL has the world's latest technology, plant and machinery, which also includes sophisticated testing equipment.
08:57 AM IST