As part of this plan, the board has approved the incorporation of a step-down subsidiary in the United Arab Emirates. The new entity will establish a seamless pipe manufacturing facility in Abu Dhabi with an annual capacity of 300,000 tonnes. Designed to serve the oil and gas sector across the MENA region, this project involves an estimated investment of up to $105 million and is expected to be completed over the next three years. The new facility will be wholly owned by Jindal Saw through its subsidiary.
Additionally, the board approved two joint ventures in the Kingdom of Saudi Arabia. The first JV will be formed between Jindal Saw Holdings FZE, a subsidiary of the company, and Buhur for Investment Company LLC. This venture will focus on setting up a helically spiral welded (HSAW) pipe manufacturing unit. Jindal Saw will hold a 51% stake in the new entity, with an investment commitment of up to $10 million. The expected project timeline is approximately two years.
The second JV in Saudi Arabia will be established with RAX United Industrial Company. This partnership will focus on a ductile iron pipe manufacturing facility, with Jindal Saw again holding a 51% stake. The investment in this project is estimated at up to $3 million, and the facility is projected to be operational within 12 to 18 months.
All the proposed entities will be incorporated in their respective jurisdictions and will operate in the iron and steel segment, consistent with Jindal Saw’s primary business. The company clarified that all transactions involve cash consideration and do not constitute related party transactions. Necessary regulatory and governmental approvals will be obtained where applicable.
Jindal Saw is engaged into manufacturing of iron and steel pipes and pellets. On a consolidated basis, net profit of Jindal Saw declined 42% to Rs 291.28 crore, while net sales declined 6.98% to Rs 5046.59 crore in Q4 March 2025 over Q4 March 2024.