Citra Tubindo bags $31 million Irianian orders

JSX-listed pipe maker PT. Citra Tubindo announced on Wednesday that it had bagged US$31 million orders from London-based Iranian company Kala Naft.

The company said in a statement filed with the JSX that the orders, which will be delivered this year, consisted of $27.3 million of Oil Country Tubular Goods (OCTB) and $4 million of drill pipes. Kala Naft will supply the OCTB ordered from Citra Tubindo to National Iranian Oil Company (NIOC), while the drill pipes would be supplied to National Irianian Drilling Company (NIDC)

The company said that some $10 million of the OTCB order would be fabricated by an Iranian company called Luleh Gostar Esfarayen Seamless Pipe Company under the company?s supervision. (alex)