By IANS
New Delhi : PSL Ltd, one of India's leading steel pipe producers, Monday announced plans to set up a unit in the Hamriyah Fee Trade Zone in Sharjah, UAE, by investing $16 million.
Apart from the UAE, the proposed pipe manufacturing unit will cater to the markets of Saudi Arabia, Oman, Qatar and Kuwait, with potential supply to Iran and Iraq. It will provide these markets with pipe supply and coating services both for onshore and offshore pipelines.
The Sharjah facility will have an initial installed capacity of 75,000 tonnes a year of spiral pipes, a three-layered polyethylene (3LPE) coating line, an internal liquid epoxy coating line, and a concrete weight-coating unit.
It will also employ around 120 people in the new facility.
"PSL has already been supplying pipes to several countries in the Middle East. Its assessment was that the freight incurred in transporting pipes from the company's Kandla plant to the Middle East could be eliminated by undertaking manufacturing in situ at a suitable location in one of the GCC (Gulf Cooperation Council) countries," PSL managing director Ashok Punj said in a statement.
The Rs.15 billion PSL Ltd is also deciding on design, plan and engineering solutions in the pipeline domain.