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United Drilling Tools to set up new plant near Mundra port

Monday, 18 Jan 2021
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United Drilling Tools (UDTL), a manufacturer of high-quality products used in the upstream oil and gas operations, has started acquiring land and building for newly manufacturing plant near Mundra port, in Gujarat, spread over 35 acre. 
The acquisition is being done with an initial capital outlay of Rs 150 million and proposed to be entirely funded through internal accruals. 
The unit will be developing latest designed products such as casing pipe with connector assembly segment further widening the existing product portfolio and in addition enhance UDTL’s manufacturing capacity by implementation of latest production technologies making it a state-of-the-art unit. 
The project comes in line with the company’s strategy to grow its domestic market share. 
The company expects 50 percent to 70 percent incremental revenues from this development in the next two years. 
While this facility will be initially manufacturing the latest designed casing pipe and connector assembly, it will also serve as a warehousing and cross docking location.
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