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Oman-based Composite Pipes Industry LLC (CPI) on Thursday announced its foray into India.
It plans to set up a 5,000-million-tonne manufacturing facility by next year with an investment of Rs 50 crore, the company said in a statement.
Composite Pipes manufactures and installs composite pipes that include glass reinforced plastic (GRP), epoxy and vinylester.
CPI is expecting a turnover of Rs 200 crore by 2015 from its Indian operations.
It plans to recruit 200 skilled and non-skilled workers once the plant is operational.
It is also expecting its first big order in India to come through from ONGC, the statement added.
It targets to export products made in India to countries such as Singapore, Malaysia, Thailand, Indonesia, Vietnam, Sri Lanka and Bangladesh.
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