Jindal Saw, Ventures in Abu Dhabi post its Saudi initiatives, would add to long term EBITDA Growth and Improved margins

announced a major strategic investment of $118 million to expand its operations in the Middle East. The company plans to establish a new seamless pipe manufacturing facility in Abu Dhabi, UAE, with an estimated investment of $105 million. This plant is expected to have an annual production capacity of 300,000 tonnes and will primarily serve the oil and gas sector in the MENA (Middle East and North Africa) region over the next three years. In addition to this, Jindal Saw has outlined two joint venture initiatives in Saudi Arabia. The first involves a partnership with Buhur for Investment Company LLC to set up a helically spiral welded pipe plant, with Jindal Saw holding a 51% stake and investing up to $10 million. The second joint venture, with RAX United Industrial Company, focuses on establishing a ductile iron pipe manufacturing unit, also with a 51% stake and a $3 million investment. Both ventures are expected to be completed within 12–18 months and 2 years respectively, pending necessary regulatory and government approvals. This aggressive expansion into the Middle East underscores Jindal Saw’s long-term vision to diversify its geographic footprint and capitalise on the robust infrastructure and energy demands in the region. By setting up locally tailored manufacturing units, the company aims to reduce logistics costs, improve delivery timelines, and strengthen its position in the global steel and pipe market. Currently trading at less than five times the enterprise value to EBITDA for FY2027, appears attractively valued, offering potential for substantial upside if these projects gain traction and deliver expected returns. The move not only enhances production capacity but also opens doors to new markets, reinforcing the company's commitment to becoming a key player in the international iron and steel industry.