Indian Seamless Metal Tubes (ISMT) has signed a proposal of cooperation with Boulder Steel Ltd, Australia and Breitenfield Group, Austria for the setting up of a seamless tubes and steel mill in at Queensland in Australia. The Queensland government has assured facilitation and financial support for this joint venture.

This proposal of cooperation between the three parties for the $300 million project is for manufacturing 3.5 lakh tpa of seamless tubes and the turnover of the proposed joint venture, at current prices, will be about $400 million.

It is assumed that the capacity will be increased to one million tpa in the future and ISMT will provide the detailed engineering, design, procurement, and construction management for the project.

ISMT will also earn substantial equity and be the major shareholder in the joint venture project.

  iiaproj