Hariom Pipe signs MoU with Maharashtra govt to set up ₹3,135 cr plant
Published on 19/09/2025 04:10 PM
Hariom Pipe signs MoU with Maharashtra govt to set up ₹3,135 cr plantHariom Pipe Industries signed an MoU with the Maharashtra government to establish an integrated steel plant in Gadchiroli, with a proposed investment of ₹3,135 crore.By Sheersh Kapoor September 19, 2025, 4:10:13 PM IST (Published)1 Min Read
Hariom Pipe Industries Limited (HPIL) on Friday said it has signed a memorandum of understanding (MoU) with the Government of Maharashtra to set up an integrated steel plant in Gadchiroli district.
The proposed investment in the project is pegged at ₹3,135 crore. According to the disclosure, the state government will support the company by facilitating fiscal incentives and helping secure necessary approvals, registrations and clearances in line with existing policies and regulations.
The agreement does not involve any shareholding, related party transaction or issuance of shares. HPIL confirmed the MoU is strictly for the proposed plant and that no special rights such as director appointments or capital structure restrictions have been granted to the state.
Also Read: Oil India, Hindustan Copper sign MoU for exploration of critical minerals
Shares of Hariom Pipe Industries ended 2.68% higher at ₹555 on the NSE after hitting an intraday high of ₹561.15.
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