Gremach Infra board OKs setting up steel pipe units

Reuters
Posted: Thursday, Jul 09, 2009 at 1155 hrs IST
Updated: Thursday, Jul 09, 2009 at 1155 hrs IST

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Mumbai: Gremach Infrastructure Equipments & Projects said on Thursday its board has approved setting up three special purpose vehicles (SPV) in western and southern India to make steel pipes.

The total capacity of these SPVs, to be set up in Maharashtra, Gujarat and Andhra Pradesh, would be 600,000 tonnes, it said in a statement to the Bombay Stock Exchange, but did not give details of investment.

"In the next 5-10 years, saw pipe products will be a big business for the company and the company expects substantial revenues to flow from these diversified products," it said.

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