MUMBAI: Adani Enterprises has announced a share purchase as well as a shareholders agreement with Mettube Mauritius, a part of the Metdist Group that is into precision copper tube manufacturing, to locally manufacture copper tubes for the heating, ventilation, and air conditioning (HVAC) industry.
Under the agreement, Adani Enterprises will divest a 50% stake in its wholly-owned subsidiary Kutch Copper Tubes to Mettube. Additionally, Adani will invest 50% in Mettube Copper India, which is a wholly-owned subsidiary of Mettube and operates a copper plant near Ahmedabad, the companies said in a joint statement Thursday without disclosing the financial details.
Mettube Copper India is part of the Metdist Group, which is a global leader in precision copper tube manufacturing with a legacy of over 50 years. Mettube operates state-of-the-art facilities in Malaysia and India, supplying copper tubes to global HVAC and refrigeration brands.
Its Ahmedabad plant, commissioned in 2024, is the country’s first inner grooved copper tube manufacturing facility.
Mettube offers a range of products spanning over 350 tailored profiles and meets global quality, performance, and sustainability standards, it said.
Metdist Group has invested in copper rod and wire manufacturing facilities in Malaysia and India, apart from also having invested in the country’s financial services, apparel, and hospitality sectors.
Adani Enterprises has an advanced copper manufacturing infrastructure in Mundra, including the greenfield copper tube facility under Kutch Copper Tubes.
“The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India’s vision of improving energy efficiency and reducing carbon emissions,” said Jeet Adani, a whole-time director of the Adani Group.
The alliance leverages Adani’s forward-integrated copper ecosystem with a 0.5 million tonne copper refinery project in Mundra and Mettube’s global manufacturing expertise. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs, said Apurv Bagri, chairman of the Metdist Group.