MoU with Andhra Pradesh Economic Development Board for proposed investment of about Rs. 700 crores
Hariom Pipe Industries has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB), Government of Andhra Pradesh.
By ScoutQuest · · 2 min read
- Proposed Investment
- approximately Rs. 700 crores
- Project
- integrated steel plant at existing unit at D. Hirehal, Anantapur District, Andhra Pradesh
- MoU Validity
- non-binding and valid for 12 months from the date of signing
What was signed
Hariom Pipe Industries Limited has entered into a Memorandum of Understanding (MoU) dated October 23, 2026 with the Andhra Pradesh Economic Development Board (APEDB), Government of Andhra Pradesh. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
What the MoU covers
- Purpose: proposal for setting up an integrated steel plant at the company's existing unit based at D. Hirehal, Anantapur District, Andhra Pradesh.
- Size: proposed investment of approximately Rs. 700 crores.
- APEDB's role: facilitate the investment, including assistance in discussions with the Union Government of India and facilitation of the land allotment process, and consideration of applicable incentives and benefits by the concerned government departments, subject to applicable policies and prescribed procedures.
How firm the arrangement is
- The MoU is non-binding.
- It is valid for 12 months from the date of signing.
- Project implementation is subject to requisite approvals, statutory clearances and applicable Government policies.
- Material updates in this regard are to be disclosed to the stock exchanges in accordance with applicable regulatory requirements.
Other particulars given in the annexure
- Shareholding, if any, in the entity with whom the agreement is executed: Nil.
- The parties are not related to the promoter, promoter group or group companies in any manner.
- The transaction does not fall within related party transactions.
- No shares are proposed to be issued to the parties under the agreement.
How a retail investor might read this
- The update records an intent to invest, described by the company as a proposed investment, rather than an investment already made.
- It puts a stated size of about Rs. 700 crores against a specific project: an integrated steel plant at an existing unit in Andhra Pradesh.
- Because the MoU is non-binding, valid for 12 months and subject to approvals, clearances and government policies, the project's final shape and timing would be tracked through the company's subsequent disclosures to the exchanges.
Also from Hariom Pipe Industries
Two 5 MW (AC) solar plants commissioned under MSKVY 2.0; group solar capacity at 15 MW (AC)
14 Oct 2026
Hariom Pipe Industries to hold virtual 1x1 analyst meet with Choice Institutional Equities on October 07, 2026
6 Oct 2026
More numbers
- Proposed investment under the MoURs. 700 crores
- Validity of the MoU from the date of signing12 months
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.