Mumbai: Man Industries Ltd said on Thursday it has acquired 155 acres land in the U.S. for setting up a 300,000 tonnes plant for helically submerged arc welded (HSAW) pipes at an investment of $100 million.
The plant, to be operational by June 2009, is expected to contribute around Rs3 billion to revenue in 2009/10, K.G. Mantri, senior vice president of corporate affairs, told Reuters over the telephone.
The company has also commissioned a 200,000-tonnes plant for HSAW pipes in the western state of Gujarat, taking its capacity to 1 million tonnes.
“We are looking at a topline of Rs2,000 crore (Rs20 billion) in this financial year, which includes contribution from the Gujarat plant,” Mantri said.