Man Industries secures new orders worth Rs 600 crore

Mumbai, Oct 9 (UNI) Man Industries India Ltd has informed BSE that the company has secured fresh orders worth Rs 600 Crore from prestigious companies in USA, Nigeria etc which shall be used by the buyers to build high pressure cross country gas transmission pipeline.

The fresh orders from USA is significant event looking at the potentially large market for pipes in US. The Company has also pitched for large tenders in US and Latin America. The current order book position of the Company including the fresh orders stands at Rs 1600 crores approximately.

Talking to media here today, the COO of the company, M S Arora, said that ''Of late, we've bagged an order worth 20 million USD from a domestic firm''. However he didn't reveal the name of the company.

He further said taht the company has got approvals from Technip (Germany) and Saipem (Italy) too for its products.

Besides, the company has got the approval for its manufacturing facilities from M/s Gazprom, Russia, which is one of the leading players in the oil and gas industry in Europe.

Half of the total orders bagged by the company is meant for coating systems, he said. The company has got four pipe mills at places like Indore and Anjar. Also, the company is in its expansion mode as it is investing a sum of Rs 70 crore for two of its forthcoming pipe mills with an additional capacity of 1,75,000 tonnes. A feasibility study is already on for this purpose, said Mr Arora. Above all, the company is going for the manufacture of large diameter pipes measuring 18 meters from earlier existing 12 meter ones, informed the VP (Corporate) of the company, D Datar, on the occasion.

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