Jindal Saw secures USD 355 million order for Supply of L SAW Pipes in USA Market

Jindal Saw Ltd has announced that the Company has bagged its single largest order aggregating to app. USD 355 Million (app. Rs 1560 Crores) from a large Corporation in USA. The order involves supply of 42" Sub Merged Arc Welded pipes (L Saw Pipes). The order is for app. 360 miles including double jointing and coating. The order which is scheduled to be executed by March 2008 has been received from an existing large client of the Company demonstrating the Company's ability to supply pipes in a high quality market. The order has been bagged through a competitive bidding process and will be executed out of US operations.

With this order, the Company's present order book exceeds USD 1.50 billion (app. Rs 6600 Crores). These orders are scheduled to be completed by March / April 2008.

Source : Equity Bulls

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