Tata Metaliks inaugurates ductile iron pipe Plant No.2; stock spurts ~4%

16 Sept 2022 , 12:59 PM

On September 15, 2022, Mamata Banerjee, Hon'ble Chief Minister of West Bengal, inaugurated Phase-I of Tata Metaliks Limited's Ductile Iron (DI) Pipe Plant expansion project at Kharagpur.

This Rs Rs600 crore expansion project would increase the Company's Ductile Iron Pipe factory capacity to nearly 4 lakh tonnes per annum.

The new factory is one of the most sophisticated DI Pipe factories, with high levels of automation and robots to ensure safe and efficient operations.

This new factory will help the company to extend its product line and strengthen its presence in the rapidly rising water infrastructure industry, which is being pushed hard by the government of India through its Jal Jeevan Mission initiative.

Apart from producing excellent quality Pig Iron and Ductile Iron Pipes in domestic and internal markets for many years, the Company, as a good corporate citizen, has been involved in a variety of community welfare programmes, mostly in Kharagpur and the villages around its factory.

Two of its flagship Welfare projects are (a) TML 300 Schools Project – to improve access and quality of education for children aged 3 to 16 years in approximately 300 villages with the goal of eliminating child labour in the community, and (b) Jal Se Jeevan – to build water conservation and harvesting structures in addition to providing toilets and drinking water to 25 villages.

As a result, the company will be among the first in the iron and steel sector to turn water positive. Tata Metaliks also has a Skill Development Centre in Midnapore, where 700 adolescents are trained each year to become employable.

At around 12.57 PM, Tata Metaliks was trading at Rs841.35 up by 3.58% from its previous closing of Rs812.25 on the BSE. The scrip touched intraday high and low of Rs872.75 and Rs815.90 respectively.

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