Jindal SAW has signed a 51 percent:49 percent joint venture with Hunting Energy Services to build India’s first premium OCTG threading factory in Nashik.
This JV would provide a premium link for OCTG from India to other regions of the world, as well as operate as an import substitution for players in the oil and gas drilling industry, allowing India to become self-sufficient in this sector.
The initial investment in this JV will be roughly $20-25 million, with a potential annual market size of close to $200 million for premium OCTG in India.
