Leaders in the pipe manufacturing industry Jindal Saw Ltd has recently partnered with Hunting Energy Services on the construction of India's first 'State-Of-the-Art' Premium OCTG Threading Plant in Nashik.
The joint venture, with Jindal SAW Ltd., is a majority shareholder, follows a 2019 strategic alliance between the two companies to develop their presence in the rapidly growing Oil Country Tubular Goods ("OCTG") market in India.
Under the terms of the joint venture agreement, Hunting and Jindal will build a dedicated premium connection threading facility in Nashik province near Jindal's existing steel mill operations, with a proposed 130,000 sq. ft. manufacturing footprint.
Speaking on this occasion, Mr. Jim Johnson, CEO, Hunting PLC, said, “We are delighted to have entered this joint venture agreement with Jindal SAW Ltd., leveraging our excellent working relationship since 2019. This partnership will be a game-changer for India and the overall industry, once we start manufacturing premium quality seamless pipes. As we move forward, our plan is to reduce its imports in India."
The facility is expected to be operational by the end of 2022, with three threading lines being commissioned over time, and is anticipated to employ approximately 100 staff members once fully operational.
"We are glad to join hands with Hunting Energy Services for this ground-breaking project. Our collective efforts and combined strengths will revolutionize the OCTG manufacturing sector and its usage in the domestic market,” said Mr. Neeraj Kumar, GCEO & WTD at Jindal SAW Ltd said. “Together with Hunting, we will become the first in line to have such a manufacturing facility in India. This JV will add value to our existing line of products and will develop the local ancillary service industry."