MAN Industries (India) gained 1.83% to Rs 454.50 today after announcing a memorandum of understanding with Aramco Asia India, a subsidiary of Saudi Aramco.
The move positions the company to expand its reach in the Middle East. The MAN Industries MoU is effective immediately and will remain active for five years. During this period, both sides will assess the plan to set up a steel pipe manufacturing facility in Saudi Arabia through MAN or its subsidiaries.
The project aims to serve the growing needs of the Kingdom, the GCC, and the wider Middle East, where energy and infrastructure investments continue to rise.
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The partnership also focuses on building advanced technologies, capabilities, and resources. The goal is to strengthen supply support for key energy, industrial, and infrastructure projects across the region. For MAN, the agreement marks a significant step toward growing its manufacturing base and technical strength outside India.
The company is the flagship of the MAN Group and is among India’s major producers and exporters of large-diameter carbon steel line pipes. Its portfolio includes LSAW, HSAW, and ERW technologies, supported by specialized pipe coating solutions used in critical sectors.
Today’s update follows steady financial progress. In Q2 FY26, the company’s consolidated net profit rose 16.07% to Rs 36.98 crore, backed by a 3.46% increase in revenue to Rs 834.09 crore compared with Q2 FY25.
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