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Indian pipeline order agreed

13th April 2012

Indian pipeline manufacturers secure contract to deliver steel pipes to Gujarat-based project

Pipelines ready by April 2013 for Gujarat project

PSL Ltd has received a pipeline and ancillary coating order from Indian Oil Corporation Limited worth approximately INR 570 crore.

The company will supply 28 inch diameter coated steel pipes of API 5L X-70 grade and up to 40 feet in length for the Mathura Pipeline De-Bottlenecking Project, in the Indian state of Gujarat.

These supplies will be made from company's already geared up plants at Jaipur and Kandla, which will be “pressed into service to meet the supply requirements”. The delivery is due within the financial year.

PSL Ltd completed pipe production for an earlier order from Gas Authority of India Limited for supply of pipes valuing INR 753 Crores from its other two plants located at Chennai and Vizag.

Ashok Punj PSL MD PSL Limited said: “These orders reinstate the trust of our clients in PSL Limited and further strengthen our foothold in the Indian market. We are positive that our technical expertise and the proximity of our various mills to these projects will deliver high quality products and services to our customers in a prompt manner."

Following the receipt of these projects, the standalone order book of PSL Limited stands at approximately INR 3,050 crore, while the consolidated order book is approximately INR 3,610 crore, with various high-value bids still outstanding and currently awaiting award.

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