Hi-Tech Pipes has said it signed a memorandum of understanding with the government of Uttar Pradesh for setting up a mega manufacturing facility of steel tubes and pipes, and flat steel processing with an investment of Rs 510 crore.
The agreement was signed under the Invest UP programme under the leadership of Chief Minister of Uttar Pradesh Yogi Adityanath.
Under this MoU, the proposed investment will be Rs 510 crore to be invested in a phased manner, according to a statement from Hi-Tech Pipes shared with exchanges.
Further, the company also said the favourable business environment and the special incentive packages offered by the UP government will additionally help the company to strengthen its position in the steel tubes and pipes and flat steel processing industry.
