PSL has won a Rs753 crore order to supply pipe for 735 km, including line pipe and three-layer polyethylene coating for GAIL’s KKBMPL project
Steel pipe manufacturer PSL said it has won a Rs753 crore order to supply pipe for 735 km, including line pipe and three-layer polyethylene coating for GAIL’s KKBMPL project.
The total order value stands at around Rs753 crore and the total length of pipe to be supplied is an estimated 735 km, the company said in a statement.
The company will supply line pipe and three-layer polyethylene coating for GAIL’s Kochi-Koottanad-Bangalore-Mangalore Gas Pipeline (KKBMPL) project.
PSL will also supply 24 inch diameter pipe, conforming to API 5L X-70 and X-80 Grades, out of its Chennai and Visakhapatnam pipe mills.
The order-book for the company stands at Rs2,200-crore, with several tenders bid under evaluation and awaiting award, it said.
“The recent orders we have secured from GAIL have special significance for PSL as a company, since they stand as a testament to our capability as a key enabler of India's gas pipeline and infrastructure projects,” PSL managing director Ashok Punj said.
PSL manufactures pipes in India through 14 pipe mills at Kandla, Chennai, Visakhapatnam and Jaipur, along with international subsidiaries in the Middle-East and USA. The annual pipe manufacturing capacity of the company stands at 1,775,000 MT per year.
On Wednesday, PSL ended 0.73% down at Rs74.65 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.96% to 18,132.24.
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