Technology

Mtar Technologies Limited Receives Orders Of Usd 22.12 Million In Clean Energy

Hyderabad, 30 June 2022
MTAR Technologies limited, Hyderabad has received an export order for USD 22.12 Mn (approximately Rs 174.6 Crores) in Clean Energy Segment. The

orders are expected to be executed from Jan 2023 to June 2023.
Commenting on the same, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said “Clean Energy sector is poised to grow at an accelerated pace amidst the global carbon emission reduction targets. The green hydrogen market in India is expected to be USD 8 billion by 2030 and USD 340 billion by 2050. NITI Aayog has suggested a Production Linked incentive scheme for electrolyser and fuel cells. MTAR is well positioned to capture the lucrative market potential available in Clean Energy sector”

About MTAR Technologies Limited:

MTAR Technologies Limited is one of the leading precision engineering solutions company engaged in the manufacture of mission critical precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance, through their precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured. MTAR’s offerings are served in the nuclear, space and defence, and clean energy sectors where they manufacture critical and differentiated engineered products with a healthy mix of developmental and volume-based production, customized to meet the specific requirements of the customers.

The company has been serving customers in the nuclear sector for over 35 years, and have 16 years of established relationships with the Nuclear Power Corporation of India (“NPCIL”). The Company also have long-standing relationship of over three and four decades with customers such as the Indian Space Research Organization (ISRO) and the Defence Research and Development Organization (DRDO) and has supplied a variety of mission critical products. Over the years, MTAR has developed import substitutes such as ball screws and water lubricated bearings that are specialized and used in the niche sectors with high entry barriers. MTAR has 7 manufacturing units including an export-oriented unit with state-of-the-art facilities each based in Hyderabad, Telangana & is in the process of establishing an additional manufacturing facility at Adibatla in Hyderabad which is expected to be operational in Fiscal 2022.

This article was shared with Prittle Prattle News as a Press Release.

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