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Chennai:
Pipe coating and pipe manufacturer PSL Ltd has bagged
$55.5 million pipeline coating and related services order
from Saipem Ltd- the EPC contractor for Dolphin Pipeline
project in Qatar promoted by Dolphin Energy Ltd. According
to PSL there is a strong likelihood of the company increasing
its business in the project.
The
contract was handed to PSL after Saipem evaluated the
Indian company''s Kandla facility.
Speaking
about the order Ashok Punj, managing director, PSL said,
"This is the first time, Indian capabilities are
being utilized to service offshore pipe coating requirements
in the Gulf. The impact of the deal would get reflected
in the company''s books during the second half of this
fiscal."
PSL
expects to complete the immediate requirement by the end
of 2005
since Saipem/Dolphin Energy intend to undertake deep sea
pipe laying activities commencing in the fourth quarter
of 2005.
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