Welspun-Gujarat secures order worth Rs 460 Crores

Welspun-Gujarat Stahl Rohren Ltd has announced that the Company, the flagship Company of the $ 1 billion "Welspun Group" of India, have bagged a prestigious onshore pipeline order worth Rs 460 Crores (USD 102 mn) for the supply of 42 inch line pipes for supply of critical LNG. The Company has procured the order for supply of 120 kms of pipe lines which is slated to be executed by 2007. These orders take Welspun's current pending order book position to Rs 2500 Crores approx. This is the first order ever received by any Indian Company by Exxon Mobil, World's largest Corporation.

Commenting on the order, Mr. B K Goenka, Vice Chairman & Managing Director of the Welspun Group Said "It is indeed a privilege to be entrusted with an order of such importance from a Company like EXXON. The order of Independence trial the deepest pipeline order took our Company to a new height and this order from Exxon is a reiteration of Welspun's acceptability in the international market along side the top manufactures in the world. We look forward to a successful and mutually beneficial relationship in the years to come. This order further enhances the Company's 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, Kinder Morgan, Reliance etc. Following its stellar performance in Gulf of Mexico, where the Company successfully delivered Pipes for the deepest pipeline in the World, Welspun has established itself as a niche player globally in the high pressure oil and gas segment. The Company has achieved newer brand acceptance heights by becoming preferred suppliers to some of the top oil & gas Companies in the world and this would angur well for the Company's objective in pursuit of sough after orders.

Further, Welspun has been short listed for many projects 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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