Hariom Pipe Signs ₹700 Cr Andhra Steel Plant MOU

Parties Involved: Hariom Pipe Industries Limited (HPIL) and Andhra Pradesh Economic Development Board (APEDB), Government of Andhra Pradesh
Execution Date: October 23, 2026
Investment Amount: Approximately ₹700 crores
Project Purpose: Establishment of an integrated steel plant at the company's existing unit based at D. Hirehal, Anantapur District, Andhra Pradesh
MOU Validity: 12 months from date of signing (until October 22, 2027)

APEDB will facilitate the proposed investment by providing:

Assistance in discussions with the Union Government of India
Facilitation of land allotment process
Consideration of applicable incentives and benefits by concerned Government departments

The MOU is explicitly stated as non-binding
Project implementation is subject to requisite approvals and statutory clearances
All facilitation is subject to applicable Government policies and prescribed procedures
No shareholding exists between the parties
The transaction does not constitute a related party transaction

Signed by Rekha Singh, Company Secretary & Compliance Officer (Membership No: A33986)
Digitally signed on October 24, 2026 at 18:11:41 IST

Financial impact not quantified in the disclosure. The ₹700 crore investment represents proposed capital expenditure subject to approvals.