November 22, 2008

PSL announces stabilization of Sharjah Capacity

PSL Limited during its Annual General Meeting held on September 4th 2008 made some significant announcements.

Mr Ashok Punj MD of PSL Ltd said that the company’s pipe manufacturing facility located in the Hamriyah Free Trade Zone shall commence supply of coated structural piling pipes for Al Nakheel’s Palm Jebel-Ali Project. The order from Hanwa Corporation is for approximately 60 kilometer of pipes valued at USD 45 million.

Mr Ashok said that various units of the company are under evaluation for a possible capacity expansion, including its pipe manufacturing complexes in Kandla and Visakhapatnam. He added that the Sharjah-based facility is amongst the various locations under consideration for future capacity expansion.

Mr Ashok Punj MD of PSL Ltd said that “With a consolidated order book of around INR 6,000 crore and several more projects in various stages of tendering, the outlook for the current financial year remains attractive.”

PSL Limited is 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 pipes in India.