PSL to invest Rs 500 crore in port construction

PSL is exploring the options of entering port construction business and is ready to invest up to Rs 500 crore in building a jetty at Kandla Port in Gujarat, through the public-private participation route. However, the actual investment could be less than Rs 500 crore and the company is preparing feasibility report on it.

PSL got the contract to build the jetty from the Government of Gujarat last week. According to the company, port construction has synergies with its pipeline business and the company has also formed a subsidiary named PSL Infrastructure and Ports through which it can foray in such port construction activities.

Recently, PSL had secured prestigious orders worth Rs 753 crore for supply of line pipe and three-layer polyethylene (3LPE) coating for Kochi-Koottanad-Bangalore-Mangalore Gas Pipeline (KKBMPL) project. The company shall be supplying pipes for a total length of 735 KM for the said project. The pipes having 24-inch diameter conforming to API 5L x 70 and X-80 grades shall be supplied out of company’s regionally distributed and strategically located pipe mills at Chennai and Visakhapatnam.

PSL is India’s largest producer / manufacturer of HSAW pipes, the line-pipe industry's preferred pipe, with production capacity in excess of the 1 MT mark.