Hyderabad-based Maruti Ispat and Pipes Pvt Ltd (MIPPL) announced plans to invest Rs 2,000 crore to expand its steel plant in Mantralayam, Andhra Pradesh. The company also aims to diversify into railways and defense sectors within five years.
MIPPL launched new electric resistance welded steel pipes under the brand ‘MS Vayu’ in Hyderabad. The company plans to go public in 2025-26 and set up new steel manufacturing facilities in Ghaziabad, Uttar Pradesh, and either Odisha or Chhattisgarh. These new plants will add a capacity of six lakh metric tonnes and create 10,000 jobs over the next five years.
“We aim to strengthen our position in the steel industry and expand our market presence with quality products. We are also looking at acquisition opportunities,” said Abhishek Agarwal, CEO of MIPPL.
The company plans to launch new product lines, including galvanized pipes, galvanized hot dip iron, and galvalume pipes. MIPPL aims to extend its manufacturing facilities to new regions to quickly expand to the northern and eastern parts of India. The strategic plans include diversifying its business across other segments.
