US-based Hunting, Jindal SAW set up $25 million OCTG threading plant in Nashik
US-based Hunting Energy Services and Indian steel pipe maker Jindal SAW have established a USD 25 million oil and gas equipment manufacturing plant in Nashik, India.
The plant, Jindal Hunting Energy Services Ltd (JHESL), is the only facility in India to manufacture and supply pipes and tubes with premium connections to the oil and gas sector’s OCTG market. It has an annual production capacity of 70,000 metric tonnes.
The plant is expected to reduce India’s reliance on imports of OCTG products, which are worth USD million annually. It will also provide domestically manufactured products at a competitive price to domestic players operating in the oil and gas sector.
Jindal SAW will hold a 51% stake in the JV, while Hunting Energy will own the remaining 49%.
The plant is aligned with the Indian government’s AatmaNirbhar Bharat initiative, which aims to promote self-reliance in manufacturing.
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