Adani Enterprises To Partner With MetTube For Copper Tubes Business

NDTV

6 days ago

New Delhi:
Adani group flagship company will divest 50 per cent of its copper tubes business to MetTube, while simultaneously acquiring a 50 per cent stake in MetTube's Indian unit, the company said on Thursday.
The two firms will collaborate to manufacture copper tubes used in air conditioning, renewable energy, and smart construction applications.
"Adani Enterprises Ltd (AEL) has entered into a share purchase and shareholders agreements with MetTube Mauritius Private Limited (MetTube)," the firm said in a statement.
"Under the agreement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes Limited, to MetTube. Additionally, Adani Enterprises will invest 50 per cent in MetTube Copper India Private Limited, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat," the statement added.
This is aimed at delivering next-generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their facilities, the Adani group firm said, adding that the alliance is aimed at reducing India's dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications.
The company did not disclose financial details of the transaction.
MetTube, a part of the diversified Metdist Group, brings decades of global experience in manufacturing high-performance copper tubes. Adani Enterprises, through its wholly owned subsidiaries, has already established advanced copper manufacturing infrastructure in Mundra, Gujarat, including the greenfield copper tube facility under Kutch Copper Tubes Limited (KCTL).
"The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India's vision of improving energy efficiency and reducing carbon emissions," the statement said.
Adani Group director Jeet Adani said the partnership with MetTube is a strategic leap towards making India self-reliant in copper tube manufacturing. "By combining Adani's infrastructure and operational excellence with MetTube's global expertise, we are not just building capacity - we are building capability." "India's copper tube demand is growing rapidly, and this alliance strengthens our commitment to the 'Make in India' vision with globally benchmarked manufacturing. Together with Adani, we aim to deliver high-quality, locally manufactured Inner Grooved copper tubes that meet international standards. This partnership reflects our shared ambition for sustainable growth and innovation," Apurv Bagri, Chairman of Metdist Group, said.
The alliance leverages Adani's forward-integrated copper ecosystem - anchored by its 0.5 million tonnes per annum copper refinery project in Mundra - and MetTube's global manufacturing and marketing expertise.
"This synergy will enable scale and speed in copper tube production, besides supporting India's green infrastructure goals by supplying high-performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs," the statement added.