Man Ind to supply LSAW pipes worth Rs750 crore
Man Industries (India) Limited, the large diameter pipe manufacturing company has secured two orders worth Rs750 crore from the Gas Authority of India Limited (GAIL) and the Middle East. This includes orders worth Rs550 crore from the Middle East and African continent and a order worth Rs200 crore from GAIL for the supply of LSAW pipes.
With this, the company’s order book stands at Rs2500 crore, with a significant part of the new orders to be executed in the current fiscal. Commenting on the new orders, JC Mansukhani, vice chairman and MD, Man Industries (India) Ltd said, “We are observing a change in the trend and demand is shifting from HSAW to LSAW pipes in Oil and Gas sector because of softening of HR plates price and comfortable availability due to commissioning of new capacities.”
Sharing his views on the global outlook, Mansukhani stated, “The global investment scenario for oil and gas transportation is extremely positive. In addition to this domestic opportunities are also very bright in view of recent government announcement on the creation of a National Gas Grid.”
The company is also in the bidding stage for many projects both in international and domestic market for supplying pipes worth Rs5000 crore.