PCK: 55000 Tonnes New Orders

PCK, Chu Kong Steel Pipe Holdings Limited, announced that the Group has been awarded 3 new bidding confirmations for 55,000 tonnes of steel pipe recently. Year to date, the Group is due to supply in aggregate 369,000 tonnes of welded steel pipes within 2014.

The Group has recently been awarded the following major bidding confirmations by independent third parties, for supplying of an aggregate of approximately 55,000 tonnes of the steel pipes with a total contract value worth approximately CNY 365million. Those are expected to be delivered in 2014, including:

1. Longitudinal submerged arc welded steel pipes for the Lukoil Oil Company’s Oil project in Uzbekistan;

2. LSAW steel pipes for the gas transmission for the Chengdu City Gas Project in Suhuan, China; and

3. Spiral submerged arc welded steel pipes for the Pingtan Bridge Project in China.

As of today, Chu Kong Steel Pipe has accumulated orders to supply in aggregate 369,000 tonnes of welded steel pipes within 2014, including the total new orders of 198,000 tonnes received year to date and the total orders of 171,000 tonnes brought forward from last year. The Year to date Orders consists of 116,000 tonnes from overseas customers, and the remaining are from the three major oil and gas companies in China, city gas projects and infrastructure projects located in China.

Mr Chen Chang chairman of Chu Kong Steel Pipe Group said that “It was impressive so far for the order received these couple months, which has already exceeded the volume of our total delivery last year, representing a good sign of order receiving. We will continue to strive for new orders with our high quality steel pipe products and diversified product strategy.”

Source – Strategic Research Institute, Steel Guru