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TII to invest Rs 211 cr in a greenfield unit near Pune, Maharashtra

Tuesday, 31 Oct 2023
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Engineering firm Tube Investments of India (TII) will invest Rs 211 crore in establishing a greenfield factory in Maharashtra to manufacture precision steel tubes. The Board of the Murugappa Group’s firm has accorded approval for the facility located near Pune.

The facility is proposed for the production of a multiple range of products, and is further intended to augment capability and enhance serviceability to the customers in different regions. The company will fund the project through internal accruals.

The project is expected to be completed in FY25.

The company which showcased strong performance while sustaining growth relies on cost reduction initiatives and optimising operations through kaizen improvements.

 
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