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PSL Secures Order Worth USD 94 Million


PSL - Tuesday, August 12, 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 that it has bagged an order of USD 94 Million (approximately Rs. 500 crores) from GAIL India Ltd. This order is primarily for supply of high quality API 5L X-80 grade large diameter steel linepipe for the Dahej-Vijaipur Pipeline Upgradation Project (DVPL-II). The order is a first since, under the progressive strides made by GAIL and its consultants M/s. Suez Tractebel in enhancing technical prowess and saving costs, GAIL has selected pipes made out of ‘niche steel’ in X-80 grade. X-80 pipes are being extensively used by China in their ambitious gas pipeline expansion programme, in addition to some projects in Europe and the United States. Given the fact that the mandate was open to international bidding from global competitors, this order is a significant achievement for PSL in a tough economic environment. Mr. Ashok Punj, MD, PSL stated “PSL has continuously demonstrated innovation in every component of its product mix. The current GAIL order was due to PSL’s R&D innovation in ‘niche steel’ X-80 category. As a global manufacturing company, we are constantly upgrading our product mix, quality and R&D efforts to successfully implement projects for our Clients. We are very proud to be selected by GAIL for this mandate.” In retrospect, this order is the sixth successive order secured by PSL from GAIL in the last two years, taking the cumulative billing to over Rs. 3,200 crores. The company has successfully demonstrated its ability to complete the first five orders in a timely manner, resulting in the laying of over 1,100 km. of pipeline in varying diameters. PSL has presented strong pipe supply chain capabilities, and therefore going forward, expects a large share of the proposed gas pipeline network to be built by GAIL, GSPL, and other domestic players, all of whom have recently announced their detailed plans worth over Rs. 20,000 crore in investment for building gas pipeline transmission networks.




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