+
HPIL Signs MoU for Rs 31 Billion Steel Plant in Gadchiroli
Steel

HPIL Signs MoU for Rs 31 Billion Steel Plant in Gadchiroli

Hariom Pipe Industries (HPIL) has signed a memorandum of understanding (MoU) with the Government of Maharashtra to establish an integrated steel plant in Gadchiroli district.
The proposed project involves an investment of Rs 31.35 billion. The state government will provide fiscal incentives and assist in obtaining all necessary approvals, registrations, and clearances under existing policies. HPIL clarified that the MoU does not involve any shareholding, related-party transactions, or issuance of shares. It is strictly limited to the proposed plant, with no special rights granted to the state.
Hariom Pipe Industries specialises in the manufacture of high-quality steel products.
The company’s consolidated net profit rose 34.8 per cent to Rs 236 million on a 34.3 per cent increase in revenue from operations to Rs 4.61 billion in Q1 FY26 compared with Q1 FY25.
Shares of HPIL fell 1.32 per cent to Rs 543.95 on the BSE.:  

Hariom Pipe Industries (HPIL) has signed a memorandum of understanding (MoU) with the Government of Maharashtra to establish an integrated steel plant in Gadchiroli district.The proposed project involves an investment of Rs 31.35 billion. The state government will provide fiscal incentives and assist in obtaining all necessary approvals, registrations, and clearances under existing policies. HPIL clarified that the MoU does not involve any shareholding, related-party transactions, or issuance of shares. It is strictly limited to the proposed plant, with no special rights granted to the state.Hariom Pipe Industries specialises in the manufacture of high-quality steel products.The company’s consolidated net profit rose 34.8 per cent to Rs 236 million on a 34.3 per cent increase in revenue from operations to Rs 4.61 billion in Q1 FY26 compared with Q1 FY25.Shares of HPIL fell 1.32 per cent to Rs 543.95 on the BSE.:  

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code