Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Steel and Oil & Gas minister Dharmendra Pradhan has appealed oil PSUs to double the procurement of domestic steel pipes for their natural gas pipeline projects chalked out for the fiscal year 2021 ending March.


These projects are estimated to use 400,000mt of steel pipes and could help in demand creation.


According to the ministry, Gail will float tenders for 100,000mt steel line pipes at a cost of around Rs10,000mn by September 2020. These pipes are expected to cover 800km stretch.


Indian Oil is also in the midst of 1,450km long natural gas pipeline project in southern India at a cost of Rs60,250mn. The project would require 165,000 of steel pipes worth Rs20,600mn.


Indradhanush Gas Grid is in the process of connecting northern and eastern states with a 550km line and has opened tenders for 73,000mt of steel pipe worth Rs9,500mn to be procured by July 2020. The procurement quantity could double by the end of March 2021. 

Leave a Reply

Your email address will not be published.