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Chennai:
The country''s largest pipe manufacturer PSL Limited (capacity
10.25 lakh ton) has emerged as a successful bidder the
coating contract for Mundra-Delhi pipeline project of
Hindustan Petroleum Corporation Limited (HPCL). The contract
worth is around Rs72 crore.
This
is the second time that PSL will be associated with HPCL
in the current year, with the first one being the Rs250
crore contract bagged in the month of June 2005 for manufacturing
API Grade X-65 pipes for the same project. .
According
to managing director Ashok Punj, "Our first project
with HPCL has already commenced at Varsana Works and is
proceeding ahead of schedule towards completion."
PSL
at its AGM also confirmed a dividend payout for the year
at 45 per cent with the final dividend of 20 per cent.
This is the 11th consecutive year of dividend payout by
this rapidly growing company.
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