Man Industries bags Rs 220 cr export orders

MUMBAI: Pipe manufacturer Man Industries India on Monday said it has bagged export orders worth Rs 220 crore from various companies including Malaysia-based oil and gas major Petronas.

"With these new orders, the order book position stands at Rs 2,400 crore. In addition to this, the company has bid for several large projects globally for around one billion dollar and expects to improve the order book position substantially in the coming months," Man Industries Senior Vice President (Corporate Affairs) K G Mantri said.

The order from Petronas is for supply of Longitudinal Submerged Arc Welded (LSAW) pipes, Man Industries said in a communique to the Bombay Stock Exchange (BSE).

After commissioning of a line pipe and coating complex at Anjar (Gujarat) in 2005, the company has a total installed capacity of over 2,500 KM of line pipe and over five million square metres of coating systems every year, it added.

The company is already in advanced stage of adding two more production lines at its Anjar complex, one of which would be commissioned in the next month and the other one in second-half of the current year.

Shares of the company were trading at Rs 256, up 3.27 per cent on the BSE in morning trade.