MoU24 Oct 2026, 06:30 pm
Hariom Pipe Industries Signs MoU for ₹700 Cr Steel Plant in AP
AI Summary
Hariom Pipe Industries Limited has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) for a proposed investment of approximately ₹700 crores. This investment will establish an integrated steel plant at their existing unit in D. Hirehal, Anantapur District, Andhra Pradesh. APEDB will facilitate the investment process, including assistance with government discussions and land allotment, subject to policies and approvals. The MoU is non-binding and valid for 12 months, with project implementation contingent on necessary clearances. This move signifies a significant expansion plan for the company in the steel sector.
Key Highlights
- MoU signed with APEDB for proposed ₹700 crore investment.
- Plan to establish an integrated steel plant in Anantapur, Andhra Pradesh.
- APEDB to facilitate land allotment and government liaison.
- MoU is non-binding and valid for 12 months.
- Investment subject to approvals and government policies.
Price Impact
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