In News
2 JUN 2009 Cheap steel: GAIL reworks order
Publication: Times of India
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.