In a step towards make in India and Building Aatmnirbhar Bharat
ambition of Government of India, the Company has signed a Memorandum of
Understanding (MOU) with the Government of Uttar Pradesh for setting up of
Steel Processing Unit including MS Pipes, STP Poles, GI Pipes, CR Coils, GP
Coils, Colour Coated Coils. Memorandum of Understanding is signed under the
Invest U.P. Programme of U.P. Government carrying out under the leadership of
Hon'ble Chief Minister of Uttar Pradesh Sh. Yogi Adityanath Ji. Under this MOU
the proposed investment will be of Rs.600 Crores to be invested in phased
manner. This proposed project will go a long way in helping to achieve a vision
of Hon'ble Chief Minister Sh. Yogi Adityanath Ji to build U.P. $1-Trillion
economy. Further, the favourable business environment and the special incentive
packages offered by the U.P. government will additionally help the company to
strengthen its position in the steel tubes & Pipes Industry.
Commenting on the arinouncement, Mr. Richi Bansal, Executive Director, Rama
Steel Tubes Limited, said "We are proud to announce that the Company has
received mega project, Our sustained relation and credibility has yet agaín
fructifíed in bagging us new prestigious mega project. RSTL has been associated
many State Corporatíons, even in the past and we celebrate our long-standing
relationship with them. This transaction will support the capacity expansion
plan and to strengthen our posìtion in the steel tubes & pípes space.