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Hi-Tech Pipes announced it has secured orders worth Rs 1.05 billion for the supply of electric resistance welded (ERW) steel pipes to customers in the renewable energy sector. These orders will be fulfilled from the company’s new manufacturing facility in Sanand, Gujarat, over the next three months.

The ERW steel pipes will be used in various renewable energy applications, including wind farms, solar installations, and other green energy projects.

Additionally, Hi-Tech Pipes’ board has approved a plan to raise up to Rs 6 billion. This fund-raising initiative may involve issuing equity shares, non-convertible debentures, warrants, or other eligible securities. The proposal is subject to necessary approvals.

Hi-Tech Pipes operates six integrated manufacturing facilities with a total capacity of 750,000 metric tonnes per year.