Adani Enterprises to Partner with MetTube for Copper Tubes Business, Reducing 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. Under the agreement, Adani Enterprises will divest a 50% stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50% in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Anmedabad in Gujarat. This partnership aims to make India self-reliant in copper tube manufacturing and support India’s green infrastructure goals by supplying high performance copper tubes for HVAC, renewable energy, and smart construction applications.