Nashik (Maharashtra) [India], September 18: In line with Indian Government's vision of AatmaNirbhar Bharat,
, a Joint Venture between global giants Jindal SAW Ltd. & Hunting Energy Services Ltd. proudly announces the grand opening of their facility collocated at the seamless tube facility of Jindal SAW Ltd. at Nashik, Maharashtra, today.
The newly launched facility which is envisioned as a 'Center of Excellence' stands as the inaugural and presently sole facility capable of producing and supplying pipes, tubes, and premium connections to the OCTG market within the Indian oil & gas sector. Thus far, all these products had to be imported from other countries, putting a strain on the foreign exchange situation in India. This facility will have huge export potential thereby earning valuable foreign exchange for the country.
Complementing the team on this stupendous achievement P.R. Jindal, the Chairman of Jindal SAW Ltd. expressed his happiness and satisfaction that with this initiative the group will be able to participate in the AatmaNirbhar initiative of the Government of India.
The facility's versatility extends to threading Hunting's premium connections, ranging from 2-3/8" to 20", and providing Large O.D. Welded Connectors, spanning from 20" to 36". This comprehensive range encompasses various grades in iron & steel, as well as alloy steel & exotic value-added grades.
Jim Johnson, CEO, Hunting PLC said, "This is a fantastic milestone, firstly with our strategic partnership with Jindal SAW Ltd back in August 2019 to the realization of the vision developed over the past four years, great progress has been made. Today, both Jindal SAW and Hunting make history, with the opening of the JV's full-fledged premium OCTG, accessories and manufacturing operations, in support of the Government's 'Make in India' initiative."
The facility is set to achieve an annual threading capacity of 70,000 metric tons of OCTG. It will be fully supported by a seamless supply chain, drawing raw materials and inputs from the Jindal SAW across the country.
Daniel Tan, MD, Hunting Asia Pacific Segment added, "Both JSAW and Hunting have come a long way, starting from sharing an idea in forging a Strategic Alliance and finally to a fully-fledged JV Manufacturing Hub for premium OCTG and accessories, built from greenfield."
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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