Financial Daily from THE HINDU group of publications
Friday, Jan 23, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 23, 2004 |
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Corporate
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Announcements Welspun Gujarat to make new range of weld pipes Our Bureau
Mumbai , Jan. 22 WELSPUN Gujarat Stahl Rohren Ltd (WGSRL), a leading manufacturer of pipes, has forayed into the manufacture of high frequency induction weld (HFIW) pipes at its existing unit at Bharuch, Gujarat. The company would manufacture different API grade pipes with a total capacity estimated around 2 lakh tonne depending upon the product mix, a company release said here on Thursday. The plant would be commissioned by June, the company added. The company also has a joint venture with Eupec Pipe Coatings GmbH for pipe coating solutions and the current foray into HFIW would synergise the operational capabilities in both plants, it said. The company has prepaid its high cost borrowings of Rs 72.50 crore to banks and financial institutions, which would lead to interest savings of around Rs 10 crore annually, it said.
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