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PSL Bags IOC Paradip-Raipur-Ranchi Order Worth Rs. 200 Cr: Secures Orders Totalling Rs. 565 Cr. Introduces Technologically-Advanced, Hi-Strength, X-80 Pipes to India through Completion of Dah
PSL Limited


PSL Limited - Tuesday, September 28, 2010

PSL Limited (PSL), the largest manufacturer of high-grade large diameter Helical Submerged Arc Welded (HSAW) pipes in India, has bagged orders worth over Rs. 565 cr. for the manufacture of pipes and the provision of coating services towards assorted oil & gas, water supply, and piling projects being implemented by various domestic & international companies. These confirmed new orders have all been booked within the current quarter, and include an order worth approximately Rs. 200 cr. order from Indian Oil Corporation for its Paradip-Raipur-Ranchi Pipeline.

PSL also announced the completion of its first-ever supply order for the manufacture of X-80 Grade, Hi-Strength Steel Linepipes for Phase II of GAIL India Limited’s Dahej-Vijaypur Project. The contract for production of 199 Km. of 48-Inch diameter pipes was awarded by GAIL under international competitive bidding. PSL, being a pioneer in the manufacture of HSAW pipes for gas pipelines within India, had upgraded several of its facilities for production of these higher-grade X-80 pipes for India’s expanding gas grid and pipeline network.

Commenting on these developments, Mr. Ashok Punj, MD, PSL Ltd. stated “The orders we picked up this quarter hold a special significance for all of us within the company. Not only have we reinforced the faith of our shareholders by meeting growth targets, but we have also gone a step further for our customers by introducing and then successfully implementing this cutting-edge technology to manufacture hi-strength steel pipes in India”.

The above orders come from reputed companies such as Indian Oil Corporation (IOC), GAIL, Lanco Industries, Saipem, and numerous other large corporations. The aggregate supply for all the orders totals approximately 119,000 tonnes. Following the receipt of these new orders, the order book for the company now stands at Rs. 1,535 cr., with several tenders bid, under evaluation, and awaiting award.

The trend for increased demand of oil & gas in India has prompted the development of large new fields, which will require large diameter pipelines at higher operating pressures. The ability to decrease wall thicknesses through the use of higher-strength pipe can dramatically effect fabrication costs, and make projects more commercially viable, and also assist in conserving resources. It is therefore anticipated that API 5LX80 pipelines will be used increasingly in India.




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