Page 43 - CV April-May 2019 issue

“ INDIAN STEEL PIPEMAKERS set to benifit

“
from HIGHER GAS USE

Prime Minister Narendra Modi's mandate Mumbai. “With the higher oil price, we annually over the next two years and has
for gas outreach is expected to boost expect a spurt in exploration and production more than doubled its spending this fiscal
earnings of the smaller mills such as investments and thereby higher demand for year, Chief Financial Officer Ashok Soni
Maharashtra Seamless Ltd., Ratnamani seamless pipes.” said in June. He expected increased
Metals & Tubes Ltd., Jindal Saw, and Man demand demand mainly due to boost in
Industries India Ltd., according to These companies face little competition capex by oil and gas firms on India's push
Indianivesh Securities Ltd. from imports after the government levied an for energy self-sufficiency.
anti-dumping duty on supplies from China
“We are bullish on the pipe makers as there last year, Kapadia said. Among pipe “Globally economies are shifting from oil to
is a significant demand pickup as well as makers, Maharashtra Seamless is his gas, and natural gas distribution companies
improvement in the overall tender activity preferred pick. have revived their investment plans, which
by the government-run oil and gas include construction of new pipelines as
companies that will significantly contribute Higher Capex well as replacement of aging pipelines,”
to the growth,” Saurabh Kapadia, a senior Maharashtra Seamless expects its Ramesh Chandra Mansukhani, chairman of
analyst at Indianvesh, said by phone from revenues to rise at least 20 percent Man Industries, said in an interview.

41 / CONSTRUCTION VISION / May June 2019