PSL Limited, a Delhi-based pipes manufacturer, has commissioned a new 150,000-tonne capacity unit at its Madhuranthakam facility near Chennai, and a 300,000-tonne capacity per year plant at Vizag.
The two plants have been strategically positioned in these locations so as to enhance the company’s regional manufacturing presence near energy and infrastructure projects coming up in the eastern and southern parts of the country, said PSL managing director Ashok Punj.
Both the units will mainly cater to the demand for steel pipes resulting from various projects being implemented by large companies such as GAIL, Reliance, GSPL, Cairn Energy and GMR.
In 2009, PSL had raised Rs 138 crore through qualified institutional placements and $50 million (around Rs 230 crore) by way of external commercial borrowing.
About 75 per cent of this amount was utilised to set up the Vizag and Chennai plants, Punj said.
