Jindal Saw Bags Orders for Supply of Pipes

Jindal Saw Ltd has announced that the Company bags orders for more than Rs 200 Cr for the supply of pipes from its various domestic and international clients.

According to an earlier release it was indicated that the Company has bagged an order of Rs 115 crores from ONGC. The Company would like to bring to note an error in reporting in the said release. The same is regretted and stands rectified. The Company's status in ONGC's Rs 115 crore offer is that of L1 bidder only.

The Company is a part of USD 4 billion Jindal Group, the fourth largest industrial house in India. The group also has the distinction of having global footprints with two affiliates in USA Jindal United Steel Corporations and SAW Pipes USA.

The Company is the leading production hub of SAW Pipes primarily used for transportation of oil and gas. With integrated facilities at multiple locations the Company has diversified into a multi-product Company, manufacturing large diameter Submerged Arc Welded pipes and spiral pipes and bends for energy transportation sector; Carbon, alloy and stainless steel Seamless tubes manufactured by conical piercing process for industrial application and Ductile Iron pipes for water and sewage transportation. Besides this the Company provides value added products and services like anti-corrosion coatings for pipe and bends, induction bends and connector casings.

Source : Equity Bulls

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