Jindal Saw bags orders for approx. US$ 250mn
Jindal SAW Limited recently has received various orders aggregating to approx. US $250 Million for supply of spiral pipes/Longitudinal Submerged Arc Welded (LSAW) pipes and seamless pipes.
Jindal SAW has, inter-alia, has received the prestigious order for (a) app. US $80 million from Saudi- Aramco, Saudi Arabia for supply of spiral pipes which shall be supplied in 2008 (b) order of app. USD 40 million from Iraq for supply of Seamless pipes and (c) order of more than $95 million from Abu Dhabi Government- owned International Petroleum Investment Co. (IPIC).
Abu Dhabi has awarded an order of aggregate value of US $460 million for pipe supply to Jindal SAW Limited (app. USD 95 million), besides Japan’s Sumitomo and Germany’s Salzgitter for the balance portion. Jindal SAW Limited is the only Indian company which has been considered for and awarded this order.
With these orders, the company’s present order book exceeds US $850 million. These orders are scheduled to be completed by January 2009.
Sourced From :Image Inc
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