Jindal Saw Share Price Surges Over 8% on JV with Buhur in Saudi Arabia

On 9th June 2025, Jindal Saw Limited informed the BSE and NSE about significant international expansion decisions approved by its Board of Directors. These include setting up a new subsidiary in the United Arab Emirates (UAE) and 2 joint ventures (JVs) in the Kingdom of Saudi Arabia (KSA). The moves are aligned with the company’s strategic intent to strengthen its presence in the Middle East’s oil, gas, and water infrastructure sectors.

Jindal Saw’s New Manufacturing Base in the UAE

Jindal Saw Limited is set to incorporate a step-down subsidiary in Abu Dhabi, UAE, aimed at establishing a 3,00,000 TPA Seamless Pipe Manufacturing Facility. This facility will primarily cater to the oil and gas sector within the MENA (Middle East and North Africa) region. The project entails a cash investment of up to $105 million and is expected to be completed within approximately three years. 

Necessary regulatory approvals will be sought as needed. This wholly-owned subsidiary will operate under Jindal Saw Holdings FZE and reflects the company’s focused drive to serve regional energy infrastructure needs.

Strategic Joint Ventures in Saudi Arabia

In addition to the UAE expansion, Jindal Saw will enter into 2 joint ventures in KSA. The first JV, with Buhur for Investment Company LLC, will establish a Helically Spiral Welded (HSAW) pipe manufacturing unit. The second JV, with RAX United Industrial Company, aims to set up a Ductile Iron Pipe production facility. 

Both JVs will be executed through Jindal Saw Holdings FZE and involve cash investments of up to $$10 million and $$3 million, respectively. Jindal Saw will hold a 51% stake in each venture. The HSAW project is anticipated to be completed in 2 years, while the Ductile Iron Pipe project has a completion timeline of 12 to 18 months.

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Jindal Saw Share Price Performance 

As of June 10, 2025, at 9:55 AM, Jindal Saw share price is trading at ₹252.47 per share, reflecting a surge of 8.88% from the previous closing price. Over the past month, it has surged by 15.67%.

Conclusion

Through these strategic initiatives, Jindal Saw Limited reinforces its commitment to expanding global operations and supporting the infrastructure needs of key international markets. The investment underscores the company’s proactive vision and confidence in the growth potential of the MENA region’s steel pipe industry.

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