Adani Enterprises, MetTube form 50:50 JV to localise copper tube production, cut imports
Mumbai: Billionaire Gautam Adani-led Adani Enterprises Ltd (AEL) on Thursday announced it has signed a share purchase agreement (SPA) and shareholders agreement (SHA) with MetTube Mauritius Private Limited (MetTube) to establish a 50:50 joint venture in the copper tubes segment, CNBCTV18 reported.
Under the deal, Adani Enterprises will divest a 50% stake in its wholly-owned subsidiary, Kutch Copper Tubes Limited (KCTL), to MetTube.
Following the transaction, KCTL will no longer remain a subsidiary of AEL, with both companies holding equal stakes.
In parallel, AEL will acquire a 50% equity interest in MetTube Copper India Private Limited (MCIPL), a copper tube manufacturer near Ahmedabad, Gujarat, which is currently fully owned by MetTube.
After the completion of the transaction, both firms will jointly own MCIPL as well.
The alliance is geared towards reducing India's dependence on imported copper tubes by combining Adani’s infrastructure capabilities with MetTube’s international manufacturing expertise.
MetTube, a part of the diversified Metdist Group, brings decades of experience in producing high-performance copper tubes.
Adani Enterprises, on its part, has established cutting-edge manufacturing infrastructure in Mundra, Gujarat, including a greenfield copper tube plant under KCTL.
This partnership aims to deliver next-generation copper solutions for the heating, ventilation, and air conditioning (HVAC) sector while contributing to India’s broader energy efficiency and carbon reduction targets.
“This 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,” said Jeet Adani, Whole Time Director, Adani Group.
The collaboration draws on Adani’s vertically integrated copper ecosystem, anchored by its 0.5 million tonnes per annum (MTPA) copper refinery project in Mundra, and MetTube’s global manufacturing and marketing strengths.
The synergy is expected to accelerate scale and speed in copper tube production while supporting India's green infrastructure ambitions through the supply of high-performance copper tubes for HVAC, renewable energy, and smart construction applications.
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