Riyadh – Sharikat Mubasher: MAN Industries (India) Limited, a steel pipe manufacturer, announced plans that it will build a new plant in Dammam, Saudi Arabia, at a cost of $71.5 million.
The new plant will include line pipe manufacturing and a coating facility to cater to Saudi Arabia’s growing demand, according to a statement made by the company to the Bombay Stock Exchange.
The company’s existing capacity is 1.1 million tonnes, with the new facility adding 0.4 to 0.5 million tonnes overseas.
The facility will be funded through debts and internal accruals, the statement further added.
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