Hi-Tech Pipes Ltd Secures ₹105 Crore Order From Renewable Energy Sector

On August 20, 2024, Hi-Tech Pipes Ltd announced the successful procurement of orders totalling ₹105 crore (inclusive of GST) for supplying ERW steel pipes to major players in the renewable energy sector.

The company stated that this significant achievement underscores the rising demand for sustainable energy solutions and highlights Hi-Tech Pipes’ commitment to supporting the renewable energy industry.

The orders will be fulfilled from Hi-Tech Pipes’ new, state-of-the-art manufacturing facility at Sanand Unit II Phase I. This advanced facility, featuring cutting-edge technology and efficient production processes, is equipped to deliver high-quality steel pipes that adhere to the stringent standards required by the renewable energy sector. The contracts reflect both the company’s dedication to innovation and the expanding role of sustainable energy in the market. Execution of these orders is scheduled over the next 3 months.

Commenting on this significant development, the Chairman of Hi-Tech Pipes Ltd, Mr Ajay Kumar Bansal, said, “We are thrilled to be chosen as a preferred supplier of ERW Steel pipes for such a pivotal sector. Our Sanand unit represents a major investment in both our capabilities and our commitment to sustainability. These contracts not only demonstrate the confidence our clients place in us but also highlight our role in advancing renewable energy infrastructure.”

He further stated, “The steel pipes will be utilised in various applications within the renewable energy sector, including wind farms, solar installations, and other green energy projects. Hi-Tech Pipes is dedicated to providing products that not only meet but exceed industry standards, ensuring durability and performance in the most demanding environments.”

The Chairman added that with this new contract, the company continues strengthening its position as a leader in the steel pipes manufacturing industry and a key player in the transition to renewable energy.

About Hi-Tech Pipes Limited

Hi-Tech Pipes Ltd is one of the leading steel processing companies in India. The company has been delivering innovative, world-class products for nearly 4 decades. The company specialises in steel pipes, hollow sections, tubes, cold-rolled coils and strips, road crash barriers, solar mounting structures, GP/GC sheets, colour-coated coils, and various galvanised products. It operates 6 advanced manufacturing facilities located in India, with a total installed capacity of 7,50,000 MTPA and plans to reach 1 million tons by FY25. Hi-Tech Pipes Ltd also has a robust marketing presence in over 20 states, supported by more than 450 dealers and distributors across India.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.