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PSL Bags Rs.570 Cr. Order From IOC

PSL Ltd. has bagged an order for Rs.570 crore from Indian Oil Corporation Ltd., or IOC, for the manufacture of pipes and provision of ancillary coating services towards the Salaya-Mathura Pipeline De-Bottlenecking Project.

As per order terms, the company will be required to supply 28" diameter coated steel pipes of X-70 grade and up to 40 feet in length. These supplies will be made from its plants at Jaipur and Kandla.

The company further stated that it had successfully completed pipe production for an earlier order from Gas Authority of India Ltd. for supply of pipes valuing Rs.753 crore from its other two plants located at Chennai and Vizag. Major portion of this supply was of API X-80 Grade Pipes.

At the BSE, PSL shares are currently trading at Rs.66.40, up2.31 percent from the previous close.

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by RTT Staff Writer

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