| "About Rs 30 crore will be invested to add balancing equipment at the facility in Anjar, Gujarat, and the rest will be used to build up our net worth," said D Datar, vice-president, corporate, MIL. |
| "DIFX provides Indian companies with a platform to access new pool of Middle East investors, diversify shareholders base and increase visibility in the fast-growing Gulf Cooperation Council economies," said Sanjay Aggarwal, director - corporate finance (Indian sub-continent), Man Industries. |
| Man Industries "" the flagship company of the UK-based Man Group "" is involved in the manufacture and supply of steel line pipes for high and medium pressure applications such as oil, gas, petrochemicals and water transportation. |
| Two of MIL's four plants at Anjar facility produce longitudinal and helically saw pipes with capacities of 2,50,000 tonne and 90,000 tonne a year respectively. |
| The facility also includes a 30 lakh sqm coating plant and a 5 mw captive power plant. The company has a second facility near Indore with a 1,35,000 tonne a year longitudinal saw pipe mill and a coating plant of 24 lakh sqm capacity. |
| Man is focusing on the West Asia market to drive its turnover, which is expected to cross the Rs 850-crore mark this year. The hydrocarbon sector in the region is witnessing a rapid growth in the oil and gas distribution network. But there are hardly any local players to cater to the sector. |
| Other Indian pipe manufacturers such as Jindal Saw, Welspun Stahl Rohren and PSL are also active in the region. |
| MIL recently emerged the lowest bidder for Rs 400 crore large pipe line project in the Middle East in international competitive bidding. The company has also participated in bids worth Rs 2,500 crore in India and abroad. At present, it has an order book of Rs 1,000 crore. |
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