Tube Investments of India’s board has approved the establishment of a greenfield precision steel tube manufacturing facility in Western India at an estimated cost of Rs 211 crore. The manufacturing unit to come up in western parts of the country would be funded through 'internal accruals’. The project will be primarily funded through internal accrual and is expected to be completed in FY2024-25. The greenfield facility is proposed to be established to manufacture multiple ranges of products. The Board of Directors of the Company at the meeting held on October 30, 2023, inter alia has approved the same.
Tube Investments of India was formed by merging TI Cycles of India and Tube Products of India. The company is in to the business of manufacturing metal products.
