India’s pipe manufacturer Man Industries and its Saudi Arabian subsidiary National Pipe Company (NPC) have secured new pipe supply orders worth a combined INR 10 bln (USD 106 mln).
According to a stock exchange filing, Man Industries received orders worth approximately INR 3 bln (USD 32 mln), while NPC secured contracts valued at around INR 7 bln (USD 74 mln). The orders were awarded by a mix of domestic and international customers and cover the supply of various types of pipes.
The company said the contracts are scheduled for execution within the next six to nine months.
The company said the new orders reflect strong market demand and customer confidence in the technological and execution capabilities of both Man Industries and NPC.
Last month, Man Industries completed the acquisition of Saudi Arabia’s National Pipe Company through its wholly owned subsidiary Man International Steel Industries Company (MISIC) in a deal valued at approximately USD 102 mln. NPC operates HSAW and LSAW pipe manufacturing facilities in Dammam and Dhahran with an installed production capacity of around 430,000 tons per year, supplying products to the oil and gas, water transmission and infrastructure sectors.
Man Industries manufactures large-diameter carbon steel pipes for the transportation of oil, gas, petrochemicals and water. The company has a combined annual production capacity of approximately 1 mln tons of LSAW and HSAW pipes and 200,000 tons of ERW pipes.
1 USD / 94.6 INR