Edgen Murray establishes office in Mumbai to service growing energy sector demand in India

Edgen Murray establishes office in Mumbai to service growing energy sector demand in India

·                   Increased business opportunities in India as a result of growing energy demand and project needs 

·                   Opening new India head office in Mumbai to complement Delhi office in response to market demand

·                   Complements investment in state-of-the-art distribution centre and Asia Pacific HQ in Singapore

Edgen Murray, a leading global distributor of speciality steel products and logistics solutions for the energy sector, is expanding its reach in India, with the opening of its new India head office based in Mumbai.

The new office will primarily service Edgen Murray’s offshore exploration and production (E&P) business in India, moving the company closer to this customer base. The company has historically supplied major steel packages to India upstream projects including the Tapti and Panna oil and gas fields and also the Hydra Project. The downstream and power sectors will however continue to be important markets for Edgen Murray’s Mumbai and Delhi operations, building on existing supply to key power sector projects.

The establishment of a presence closer to customers is supported by positive sector trends. India is currently the world’s fifth largest energy consumer and its demand is continuously growing.[1] Meanwhile, India is also forecast to become the world’s third largest steel consuming country after China and the US in 2011, according to the World Steel Association.

India’s offshore sector growth is expected to be strong in the next five years, specifically in relation to deepwater fields coming on-stream inside this period.[2] India’s ongoing demand for steel is also significant. According to the World Steel Association, demand grew 7.5 percent during the global financial crisis and is expected to grow further in 2011.

“The country’s large natural energy reserves coupled with the ever growing energy needs has resulted in a surge in energy-related projects in recent years,” says Michael Craig, Executive Vice President and Managing Director, Eastern Hemisphere, Edgen Murray. “This has created an increase in demand as well as new opportunities in an expanding Asia Pacific market.”

“Opening an office in Mumbai delivers customers a range of important benefits. From developing a deeper understanding of a customer’s requirements to being better able to match our expertise to specific needs and respond at greater speed,” adds Mr. Craig. 

Edgen Murray’s presence in India is complemented by its expanded operations in Singapore, where in December 2010 the company opened a new, state-of-the-art distribution centre to increase its ability to service customers in the region. The new $25 million SGD, 18,000m² facility provides capacity to stock in excess of 30,000 tonnes of product, representing the single largest capital investment made in the history of the company.

ENDS

About Edgen Murray

Edgen Murray is a global distributor of high performance steel products manufactured for use in specialised applications throughout the energy infrastructure markets and individual industrial segments. Supplying both new construction projects and maintenance, repair and operational requirements, Edgen Murray offers a broad range of materials, technical expertise, and customized solutions through more than 30 worldwide locations spanning the Americas, Europe, Middle East, and Asia Pacific. For more information, visit www.edgenmurray.com

For further information please contact:

Kashmira Powale

9867520721