Man bags Rs 542cr order from Middle East

Man Industries (India) has bagged a Rs 542 crore order from the Middle East for manufacturing of line pipes for high pressure oil and gas
applications.

"This order substantially improves our presence in the global oil and gas sector and it will help us contribute substantially to our topline as well as bottomline," Ramesh C Mansukhani, chairman of Man Industries, told today.

The order is the single largest order for longitudinal pipes in the country and the company would manufacture around 130-140 kms of coated line pipes for an unnamed government institute in the Middle East.

The Rs 160 crore Anjar plant in Gujarat, which is to begin commercial production from next month, will execute the order as there will be a great savings in logistic cost due to its proximity with the ports.