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PSL Commissions New Large-Diam


PSL - Monday, October 6, 2008

PSL Limited, a global leader in manufacturing and coating of pipes for transporting hydrocarbon products, water products, and steel structural applications, and the largest manufacturer of high-grade large diameter Helical Submerged Arc Welded (HSAW) pipes in India, announced today the commissioning of its new pipe-manufacturing facility on its site located just outside of Bay St. Louis, MS, at the Port Bienville Industrial Park.

The US $100 million facility has been set-up by subsidiary PSL North America on 156 acres of land allocated by the State of Mississippi, along with an attractive package of fiscal incentives. PSL North America (PSL NA) has strategically located this mill along the Gulf Coast with access to barge, railroad, and trucking facilities, in order to minimize overall freight costs.

On the occasion, Mr. Ashok Punj, MD, PSL Limited said “In commissioning their mill on schedule, PSL NA has effectively seized the ‘First Mover Advantage’ by becoming the only one among the new generation 2-step mills to commence production in Calendar Year 2008. The other mills are not expected to be in production till 2009”.

“PSL North America can now commence execution of the $400 million order received by it in May 2008 in order to achieve and maintain its scheduled compliance” Mr. Punj added.

PSL was distinctively qualified to execute this project in record-time on foreign soil for three key reasons: First, it had the demonstrated ability to build and successfully start-up twelve spiral pipe mills previously, both within India and abroad. Second, since PSL both manufactures the equipments in-house and operates the completed plant, potential execution problems were eliminated. Third, PSL had become very effective in training its staff on the various design, plan, and engineering aspects within the pipeline domain. PSL Ltd. had, in effect, the cumulative experience, resources, and knowledge to execute the project.

PSL had already invested in similar state-of-the-art capacities, machining facilities, and engineering resources from its bases in Gujarat. It is the only Indian company with a similar two-step pipe mill in Kandla, and is the 3rd such company in the world with such a facility.

The text of the press release issued by PSL North America LLC on commissioning of the United States facility is enclosed.

About PSL Limited

PSL Limited (PSL) is the largest manufacturer of high-grade large diameter Helical Submerged Arc Welded (HSAW) pipes in India. The Company manufactures and supplies pipes certified to API (American Petroleum Institute) standards for oil, gas and water transmission as well as structural and piling applications for both onshore and offshore sector.

PSL is one of the largest pipe manufacturers in India with 12 pipe mills at multiple and strategically coast-based locations in Kandla, Chennai, Visakhapatnam, Ahmedabad, and Jaipur along with its foreign Sharjah unit.

Other business segments that PSL caters to, include pipes coating, induction pipe bending and sacrificial anode manufacturing. PSL has over the years successfully demonstrated its ability to simultaneously manage multiple assignments in a qualitatively and timely manner, both within and outside the country.






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