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PSL's arm bags $80-m Saudi pipeline deal

24 Mar 2011 Evaluate

PSL Ltd's Sharjah-based subsidiary, PSL FZE, Hamriyah, has been awarded an $80-million contract for the supply of bare line pipes to the Saline Water Conversion Corporation (SWCC) of Saudi Arabia. The project comprises construction of a water transmission system from Ras Azour in the eastern province of Saudi Arabia to Hafr Al-Baten in the central system, constituting API 5L Grade X-65, 44-inch diameter pipes for a total length exceeding 350 km.

With this order from SWCC, the installed capacity of the Pipe Mill at PSL FZE, Hamriyah, shall be fully utilised from April 2011 to May 2012. The company is adding another pipe mill of capacity of 75,000 million tonnes a year at PSL FZE, Hamriyah, taking the total capacity to 150,000 million tonnes a year. The installation of the second mill is in an advanced stage of completion.

The company managed Rs 2,400 crore of revenues in the first nine months of 2010-11, suggesting a lower run rate than 2009-10 when net sales hovered at Rs 3,800 crore on a consolidated basis.crackcrack

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