17-01-2019

Tubacex and Midhani signs MOU to expand and grow in Indian energy growth Plan

TUBACEX and the Indian company, Mishra Dhatu Nigam Limited (MIDHANI), have signed a MOU for development of diverse key projects in the region. This agreement would allow the joint development of advanced materials for the energy sector, contemplating technological alliances and the promotion of local manufacturing capacities.

Both companies are committed to evaluating the operational, technical and economic feasibility of different projects in India, strengthening their presence in a key market with great growth potential in the coming years. More specifically, the nuclear energy sector in this region is in a state of growth and requires investments in large-scale energy infrastructures over the next decade, requiring local technology.

To respond to this situation, TUBACEX acquired the Indian company Prakash Steelage in 2015 with the aim of improving its proximity to the region by offering competitive products and a more personalized service. Since then, an investment plan aimed at preparing the company on a technological level has been undertaken, with significant effects on the quality of the products and an increase in their productive capacity.

The alliance between TUBACEX and the state-owned company, MIDHANI, specialized in the manufacture of special steels and super-alloys, would enable another step to be taken in moving closer to highly demanding technical projects, which require materials exposed to extreme conditions. The experience of both companies in the manufacture of this type of materials, would allow the development of new technologies and solutions focused on increasing energy efficiency and competitiveness to continue advancing.

Besides, the potential alliance would expand the commercial scope of TUBACEX in the region through the MIDHANI sales platform, reinforcing the work of its sales office, Tubacex India. On the other hand, the Indian company will be able to take advantage of the positioning of TUBACEX in other markets, extending the commercial offer of the Spanish company.

Jesús Esmorís, TUBACEX Group CEO, has positively evaluated that this strategic tieup as an opportunity to boost the positioning of TUBACEX in key multi-annual projects as well as in a target market with huge growth potential. "India has prospects of becoming a world leader in the development of nuclear energy and our commitment is based on our ability to develop advanced materials that respond to the challenges facing the industry in terms of safety, quality and energy efficiency," he said.