Rama Steel Tubes Ltd signs MOU with UP Government for new unit

In a step towards make in India and Building Aatmnirbhar Bharat ambition of Government of India, the Company has signed a Memorandum of Understanding (MOU) with the Government of Uttar Pradesh for setting up of Steel Processing Unit including MS Pipes, STP Poles, GI Pipes, CR Coils, GP Coils, Colour Coated Coils. Memorandum of Understanding is signed under the Invest U.P. Programme of U.P. Government carrying out under the leadership of Hon'ble Chief Minister of Uttar Pradesh Sh. Yogi Adityanath Ji. Under this MOU the proposed investment will be of Rs.600 Crores to be invested in phased manner. This proposed project will go a long way in helping to achieve a vision of Hon'ble Chief Minister Sh. Yogi Adityanath Ji to build U.P. $1-Trillion economy. Further, the favourable business environment and the special incentive packages offered by the U.P. government will additionally help the company to strengthen its position in the steel tubes & Pipes Industry.

Commenting on the arinouncement, Mr. Richi Bansal, Executive Director, Rama Steel Tubes Limited, said "We are proud to announce that the Company has received mega project, Our sustained relation and credibility has yet agaín fructifíed in bagging us new prestigious mega project. RSTL has been associated many State Corporatíons, even in the past and we celebrate our long-standing relationship with them. This transaction will support the capacity expansion plan and to strengthen our posìtion in the steel tubes & pípes space.

Source : Equity Bulls

Keywords

RamaSteelTubes MoU AatmnirbharBharat UPGovernment NewPlant