Welspun-Gujarat Stahl bags prestigious orders worth Rs.1049 Crores

Welspun-Gujarat Stahl Rohren Ltd has announced that the Company has bagged prestigious orders worth Rs 1049 Crores (USD 235 mn) for the supply of line pipes for critical Oil and Gas Applications.

These orders take the Company's order book position to over Rs 3500 Crs (USD 785 million) including the orders executed in Q III - 07. These orders have enabled the Company to be booked for over 1 year. The new overseas orders is an evidence of the Company's unique dominance of the burgeoning international market having huge potential.

Commencing on the order, Mr. B K Goenka - Vice Chairman & MD of the Welspun Group said "To have such a privileged positioning globally is a sign of honor for Welspun and we look forward to a successful and mutually beneficial relationship in the years to come. These significant orders of considerable value from reputed international players, is a matter of pride for Indian Company and we owe these to our credo of 'Engineering Excellence'".

Key order executed:

Some of the key pipe supplies in recent past were for PGN, Indonesia, Stroy Transgas, Algeria, Saudi Aramco, NIGC Iran, etc. Following its stellar performance in Gulf of Mexico, where the Company successfully delivered pipes for the deepest pipeline in the World, the Company has established itself as a niche player globally in the high pressure oil and gas segment. In the past, the Company has also supplied very large diameter (56" O.D.) pipes, with heavy wall thickness to Iran.

Further, the Company has been short-listed for projects, over $ 1 billion which shall enable a strong growth for the Company. The Company has achieved newer brand acceptance heights by becoming preferred suppliers to most of the top oil & gas Companies in the world and this augur well for the Company's objective of making "Made in India" products a matter of pride for Indian Companies.

Source : Equity Bulls

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