| 2 JUN 2009 |
Cheap steel: GAIL reworks order |
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| Publication: |
Times of India |
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Taking advantage of near 50
per cent drop in steel prices,oil firms are redrawing major pipeline
orders to reduce project costs.Since pipelines are made from steel
plates,their costs vary in direct proportion to steel prices.
With plans to invest Rs. 20,000 crore in expanding its pipeline
network by 2011-2012,state-run gas utility GAIL would be the biggest
beneficiary.