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Wednesday, November 15, 2006

BREAKING NEWS - Welspun Gujarat gets 4.60 bln rupees order


Steel pipes maker Welspun Gujarat Stahl Rohren Ltd. said on Wednesday it had secured an offshore pipeline order worth 4.60 billion rupees from Exxon Mobil Corp. .

A stock exchange notice earlier said the company had secured orders, but Welspun Gujarat said in a statement that it was a single order.

The company expects to execute the order for the 120-kilometre (74.56 miles) pipeline by 2007. Its order book stands at about 25 billion rupees, it said.

Shares in the company rose 0.61 percent to 82.40 rupees in a firm Mumbai market.