Financial Daily from THE HINDU group of publications
Saturday, Apr 08, 2006
Financial Daily from THE HINDU group of publications Saturday, Apr 08, 2006 |
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Corporate
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Announcements PSL bags Rs 85-cr Oman order Our Bureau
Mumbai , April 7 PSL Ltd, manufacturer of pipes and pipe coating, announced that it has bagged an order worth $18.898 million (Rs 85 crore) for supply of API quality steel pipes to the Sultanate of Oman. Supply against the order is expected to be completed within seven months. PSL has been exporting pipes to the Sultanate of Oman and to other countries in West Asia, in the past. With this venture, PSL plans to consolidate its hold in this market. The current order will be supplied from PSL's plant at Kandla. Shares of PSL remained unchanged at Rs 255.35 in Friday's trade on the BSE. "PSL recently announced its decision to start its manufacturing operations in the lower Gulf region of West Asia. Post the set-up of our proposed new pipe mill we will have 13 mills operating, 12 in India and 1 in the Gulf,'' the company said in a news release quoting Mr Ashok Punj, Managing Director, PSL.
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