Vibhor Steel Tubes Ltd (VSTL), a Hisar-based steel maker, on Wednesday, February 07, announced the setting up of a new steel tubes manufacturing unit in Sundargarh, Odisha to expand its manufacturing capacity to 3.41 Lakh Tonnes. The company currently has two plants in Mahabundagar, Telangana and Raigad, Maharashtra with a total capacity of 2.21 Lakh Tonnes.
The upcoming project will increase VSTL’s current capacity from 1,20,000 MT to 3,41,000 MT and is scheduled to be operational in the first quarter of FY24-25. The company has already acquired land for the project and placed orders for machinery and equipment. The project will be funded through internal accruals.
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The Odisha Steel Tube plant will manufacture value-added products like crash barriers and monopoles with improved margins. Additionally, the company will explore export markets after the project is completed.
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