Rama Steel Tubes inks strategic pact with JSW Steel

18 Jul 2023 , 12:03 PM

Rama Steel Tubes Ltd. (RSTL) announced that it has signed a strategic Memorandum of Understanding (MoU) with JSW Steel Group.

RSTL has entered into a strategic and significant partnership with JSW Steel Limited, India’s largest steel mill, for the procurement of hot rolled coils (HRC) used in manufacturing RSTL’s steel tubes and pipes.

Further, the agreement underlines the distribution of HRCs produced by JSW Steel in the Western region.

RSTL will also manufacture value-added products, the pre-galvanized pipes, in collaboration with JSW Steel Coated Products Ltd. Rama Steel stated that the MoU will enable RSTL to purchase 100,000 tons of HRC from JSW Steel on a pan-India basis to facilitate the manufacture of various steel tubes and pipes.

The MoU also designates RSTL as JSW Steel’s official distributor for HRC distribution in the western region.

RSTL has also signed a deal with JSW Steel Coated Products Limited to produce 200,000 tons per year of high-value, pre-galvanized pipes under the style and brand name ‘JSW Kalinga’ for the western area.

At around 12.00 PM, Rama Steel Tubes was trading 3.19% higher at Rs 40.45, against the previous close of Rs 39.20 on NSE. The counter touched an intraday high of Rs 42.25.

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