Ratnamani Metals & Tubes Limited (RMTL) announced that it has signed a Joint Venture and Shareholders Agreement with Saudi Electric Supply Company Limited (SESCO) based in Saudi Arabia. The agreement aims for the two companies to establish a joint venture company in Dammam, Saudi Arabia or any other location deemed appropriate. India-based RMTL, one of the leading companies in the industry specializing in the production of stainless steel and carbon steel pipes and tubes, aims to further strengthen its global presence through this partnership.
The joint venture company aims to provide critical piping solutions in the global market, particularly in Saudi Arabia and the Gulf Cooperation Council (GCC) countries. At the same time, it is planned to respond directly to the needs in the region with the local production of seamless pipes, which are currently largely imported. This step is expected to help RMTL strengthen its local presence in the region, increase brand awareness and provide faster and more efficient service to customers.
SESCO is a well-established provider of comprehensive supply chain solutions for major industrial projects in Saudi Arabia. Together with its other companies, it will provide project management, market analysis, legal processes and operational support to the new joint venture. The JV company aims to operate with a wide range of products from stainless steel to carbon steel, nickel alloy products to coated pipes.
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