Adani Enterprises to Partner with MetTube for Copper Tubes Business, Aiming to Reduce India's Dependence on Imports

Adani Enterprises Limited (AEL) has entered into a Share Purchase and Shareholders Agreements with MetTube Mauritius Private Limited (MetTube) to deliver next generation solutions to the heating, ventilation, and air conditioning (HVAC) industry. This alliance is aimed at reducing India’s dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications. Adani Enterprises will divest a 50% stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube and invest 50% in MetTube Copper India Private Limited, a wholly owned subsidiary of MetTube. This partnership aims to make India self-reliant in copper tube manufacturing, leveraging Adani’s forward-integrated copper ecosystem and MetTube’s global manufacturing and marketing expertise.