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PSL bags 2nd GAIL order of Rs. 212 Crore


PSL - Tuesday, August 19, 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, today announced that its pipe coating division has received an order in excess of Rs. 210 crore to provide pipe coating services for the entire Dahej-Vijaipur Pipeline Upgradation Project (DVPL-II) of GAIL India Ltd. This order is primarily for application of sophisticated external three-layer polyethylene coating on over 600 km. of large diameter API-grade steel linepipe.

PSL will mobilize two of its coatings plants at Varsana and Gandhidham in Kutch district of Gujarat to fulfil the order, and will commence coating for this project in the latter half of this financial year. The DVPL-II project shall consist of approximately 619 km. of various diameter linepipe with different thicknesses that will transport natural gas for the client. This is the second order received during the past week for PSL from GAIL, the first being a contract for supply of approximately Rs. 500 crore of high quality API X-80 grade steel pipe also to be utilized for the DVPL-II Project. With the addition of this order, PSL has thus enhanced the total value of pipe supply and coating orders received from the client to the tune of over Rs. 700 crore.

PSL Limited MD, Ashok Punj, stated “PSL, a key enabler of infrastructure and construction projects, has developed numerous state-of-the-art onshore and offshore pipe coating yards, in addition to its many existing API-certified pipe mills across the country, which will go a long way in serving upcoming projects being implemented within India. The DVPL-II upgradation project constitutes a critical onshore investment towards the enhancement of the nation’s gas grid, and this order is an acknowledgement of PSL’s versatile capabilities in simultaneous and timely implementation of pipeline projects. We look forward to working with GAIL on this and other future projects of national importance.”

PSL specializes in providing products and services for the pipeline, refinery, and offshore segments of the oil and gas industry. The company is a global leader in pipe-coating solutions and related services for land and marine pipelines. PSL has built 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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