Specialised engineered steel products manufacturer, Goodluck India Limited, inaugurated its hydraulic tubes manufacturing plant on September 15, 2024. The plant has an installed capacity of 50,000 MT and is located at Bulandshahr in Sikandrabad . The total estimated investment was over Rs 200 crore.
The highly specialised hydraulic tubes are used in construction machinery, light commercial vehicles and other industrial equipment, will act as a replacement for seamless tubes and help substitute imports.
MC Garg, Chairman & Managing Director, Goodluck India Limited, said that the greenfield project is likely to shore up the company’s revenues as there is a high demand for indigenously manufactured hydraulic tubes and there not too many players in the segment at present. The project would be completely funded through internal accruals.
The company is also looking to export nearly 40 per cent of its total production from the plant to the US and Europe where there is a good demand.