Archive · 10 Jun 2025
Jindal Saw Shares Surge After Middle East Investment Announcement
Imagine a company called Jindal Saw that makes pipes, wants to grow bigger.
They decided to spend a lot of money, $118 million, to build new factories in the Middle East!
One of these factories will make special pipes in Abu Dhabi.
They also plan to team up with other companies in Saudi Arabia to build two more factories.
This is good news, so the company's stock went up!
The new factories will help them make more pipes to sell to companies in the oil and gas business, which will hopefully make them a lot of money in the future.
Jindal Saw shares rose 11% following the announcement of a strategic investment.
The company plans to invest $118 million in Middle East expansion.
A new seamless pipe manufacturing facility will be established in Abu Dhabi, UAE.
Jindal Saw will establish joint ventures in Saudi Arabia.
The expansion aims to strengthen the company's presence in the oil and gas sector.
- Who
- Jindal Saw
- What
- Announced a strategic investment of $118 million to expand its operations in the Middle East, including a new manufacturing facility and two joint ventures.
- When
- June 10, with expected completion timelines varying by project
- Where
- Abu Dhabi, UAE and Saudi Arabia
- Why
- To expand operations and strengthen market presence in the Middle East, particularly in the oil and gas sector.
- Investment Amount
- $118 million
- New Plant Location
- Abu Dhabi, UAE
- Plant Capacity
- 300,000 tonnes per annum
- Stock Increase
- 11%
- 52-week High
- ₹383
- Joint Venture 1 Partner
- Buhur for Investment Company LLC
- Joint Venture 2 Partner
- RAX United Industrial Company