Date:23/05/2006 URL: http://www.thehindubusinessline.com/2006/05/23/stories/2006052304070300.htm

Back PSL to invest in UAE

Our Bureau

Mumbai, May 22

PSL Ltd said it has received an order of Rs 181.5 crore from GAIL for supply of 164.5 km of pipes for Dahej Uran Pipeline project. It has also received another order from L&T for a Japanese funded water pipeline project, implemented by Kerala Water Authority. The company would supply coated pipes worth Rs 168 crore, which would serve the drinking water requirements of several small villages in Kerala. The project would be completed by December 2006.

The company's board has also accorded an in-principal approval for its investment in company's project in UAE at Hamariyah Free Trade Zone, Sharjah. This free trade zone would be operational by early 2007, an official statement said. Shares of PSL ended down by Rs 4 at Rs 225.90 on BSE.