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Business Economy


Maruti Ispat & pipes to invest Rs 2000 crore in next 5 years for its expansion

Hyderabad, June 25 (UNI) Maruti Ispat & Pipes Pvt Limited (MIPP), a subsidiary of the MS Agarwal Group, on Tuesday announced to invest Rs 2000 crore in the next 5-years for the expansion of manufacturing facilities in Northern and Eastern regions of the country to strengthen its position in the steel industry and increase its market presence.
The Hyderabad-based south India’s second largest secondary steel manufacturer is also planning to raise Rs 400 crore through an initial public offering (IPO) in FY2026 to diversify its business across other segments as part of its strategic plans, said Abhishek Agarwal, CEO, MIPP on the sidelines of the launching of its ‘MS Vayu’, a new brand which will issue to sell ERW steel pipes in the market.
Without disclosing its new business entry, he said the company is planning to expand its Mantralayam (Kurnool, Andhra Pradesh) plant capacity to 6 lakh metric tonnes over the next five years and through this expansion would create additional; employment to 10,000 people against 2,000 people working currently, he informed.
we are planning to expand our manufacturing facilities in Northern states like J and K, Punjab and Uttarakhand, and Eastern states of West Bengal and Odisha, he said. Agarwal said currently, we are producing ERW steel pipes and planning to launch new product lines of galvanised pipes, galvanized hot dip iron, and galvalume pipes.
The new products will cater to the growing demand in the market and significantly contribute to our growth, he informed.
We are expected to cross Rs 1500 crore revenue in FY25 against Rs 1200 crore in the previous year, he added.
Today, the company has reached production capacities of 1.50 lakh MT for Sponge Iron, 1.44 lakh MT for the Steel Melting Shop, 8 MW energy production for the Power Plant, and 1.44 lakh MT for Pipe and Tube.
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