PSL awarded Rs 165 cr contract by IOC

MUMBAI: PSL Ltd has been awarded a contract valued Rs 165 crore by Indian Oil Corporation Ltd for their Dadri-Panipat gas pipeline project. The contract is for supply of 30 inch API 5LX70 grade pipes with anti-corrosion coating for a total length of 134 km.

PSL will execute this order at its Kandla facility in Gujarat, which has been set up to cater to high pressure oil & gas requirement both in the domestic as well as international market. The order is likely to be completed by March 2008.

The company order book value is over Rs 2,300 crore.

PSL shares were at Rs 340 on the BSE, up 4.41% over Monday’s close.