Ratnamani Metals establishes Saudi Arabian subsidiary for tubing solutions

Ratnamani Metals & Tubes Ltd. has incorporated a new subsidiary, "Ratnamani Middle East Company, LLC," in Dammam, Saudi Arabia, as a joint venture, effective August 25, 2025. The new entity, confirmed on August 26, 2025, aims to provide critical tubing solutions to consumers in Saudi Arabia, Gulf Co-operation Council (GCC) countries, and other global markets, while also fulfilling the objective of local manufacturing of seamless products.

The subsidiary has an authorized and paid-up share capital of Saudi Riyal 20,00,000.00. Ratnamani Metals & Tubes Ltd. will subscribe to 75% of the paid-up equity share capital, amounting to Saudi Riyal 15,00,000.00, in cash. The remaining shares will be held by Saudi Electrical Materials Company Limited, KSA, a SESCO group company, as the joint venture partner.

This strategic move is intended to develop Ratnamani Metals & Tubes Ltd.'s local presence, branding, and servicing capabilities in Saudi Arabia and GCC. The new entity falls under the manufacturing industry, specifically focusing on seamless steel tubes and pipes.