- 20 June 2006 -
Amiantit forecasts growth in India

AMIANTIT Fiberglass Industries India Ltd (AFIIL), Saudi Arabian Amiantit Company’s joint venture in partnership with the Salgaocar Group of Goa, forecasts a 90% growth in sales for 2006 as a result of increasing demand from India's booming industrial sector.

In March AFIIL completed a US$6.5 million contract from Essar Oil for engineering, supply and installation supervision of glass reinforced plastic (GRP) pipes for the sea water intake and outfall system at its upcoming refinery in Vadinar, Gujarat.

This was followed by a bigger order from India's largest petrochemicals and refining company which specified Amiantit GRP pipes for its sea water intake and outfall system. This $10 million supply contract is for a complete system and is to be completed in 2006.

AFIIL has also won orders worth $3.5 million for the supply of double-wall GRP underground fuel storage tanks to Dutch oil major, Shell India, which has a license to open 2000 retail outlets.

Amiantit; www.amiantit.com

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