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Tube Investments of India will formally commission its ₹250-crore factory to manufacture large diameter, precision-welded tubes on Thursday.
With the new factory at Thirutani, about 125 km south of Chennai, the tube manufacturer will expand its product range to cover a wider range of industrial needs including off-road vehicles used in infrastructure and construction, L Ramkumar, Managing Director said at a press conference. TI is a part of the ₹24,000-crore Murugappa group.
With a capacity of over 11,000 tonnes a month at full operations, which the company expects to reach in about three years, the new unit will contribute about ₹450 crore to the top line, he said.
OpportunitiesKK Paul, President, Tube Products of India, a division of TI, said the company now has about 2 lakh tonnes of tube production capacity distributed across three units. They make tubes of up to 114 mm and thickness of 6 mm.
The new factory has the capacity to make larger tubes — cold drawn welded and electric resistance welded — of upto 180 mm with a thickness upto 12 mm. They cater to hydraulic cylinders, large diameter propeller shafts and axle tubes.
MM Murugappan, Vice-Chairman, Murugappa Group, said the new unit is aligned with the emerging opportunities in the domestic market.
The products will also be exported to the US, Europe and the ASEAN. The company, which started out making bicycle-frame tubes, has evolved to cater to high-end needs.
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