Mill to Open in 2008; Will Employ 275 People

(Jackson, Mississippi) – PSL-North America (PSL-NA) is constructing a pipe manufacturing and coating facility on a 155-acre site at the Port Bienville Industrial Park, outside of Bay St. Louis, Miss. The plant will initially employ 275 people, with wages averaging $50,000 per year.

?The collaboration between PSL-North America, the state of Mississippi, Hancock County and the Port & Harbor Commission is a great example of what we can achieve in economic development when we all work together for the good of our citizens,? Governor Haley Barbour said.

The company has been induced for $50 million in Gulf Opportunity Zone bonding authority from the State. The Mississippi Development Authority
(MDA) has committed $9 million for public infrastructure costs from Community Development Block Grant funds, and pledged another $1 million in loan funds for rail improvements. Additionally, the U.S. Economic Development Administration has stated its interest in providing a grant of up to $1.5 million in federal funds for the project.

?We considered several sites around the country for our new plant, but in the end chose Hancock County because of the people. From facilitating the incentive package to demonstrating an outstanding workforce, the people in Hancock County separated their site from others. We look forward to building a successful business and being a
part of this community,? said Brian Vaill, CEO of PSL-NA.

?With the strength and support of partners like Hancock County Port & Harbor Commission and Mississippi Power Company, the state of Mississippi was able to ensure PSL-NA an ideal location with an adequate, skilled workforce plus excellent transportation options,?
said Gray Swoope, Executive Director of the Mississippi Development Authority.

?The company has indicated that they intend to hire as many local citizens as possible for its manufacturing activities. This project also has the potential to provide other marine, rail and trucking-related jobs for our county,? said Rocky Pullman, President of the Hancock County Board of Supervisors.

The company?s facility requirements are two buildings totaling a site footprint of approximately 2,400? x 390? with abundant rail and on-site storage for finished pipe. The county and Port & Harbor Commission are offering a 155-acre site to the company for $1 per year, as long as the company maintains or exceeds its projected employment goal of 275.

?The location of PSL-NA in our industrial park further diversifies our industrial base and adds good paying jobs to the region,?
according to Robert Kane, Chairman of the Hancock County Port & Harbor Commission, the economic development arm of the county.

The facility will manufacture, coat and line API Pipe with a diameter range of 24? to 60?, a wall thickness range of ?? to 1?, lengths up to 80?, and grade up to and including X80. Annual plant capacity will ultimately be 300,000 short tons.

The state-of-the-art facility will utilize the latest technology available in Helical Two-Step, Submerged Arc Welded (HTS-SAW) pipe manufacturing and is expected to begin serving the strong Large Diameter Line Pipe market in the second quarter of 2008. With this facility, PSL-NA will be able to reduce the imbalance between domestic demand and domestic supply of large diameter line pipe for natural gas transportation requirements.

By strategically locating this facility along the Mississippi Gulf Coast, PSL-NA will minimize overall freight costs because of accessibility to barge, railroad and truck transportation.

?The Port Bienville site provides PSL North America with direct rail service and waterfront access to the Gulf for import and export,? said Jack Zink, Hancock County Port & Harbor Commission Executive Director.

About PSL-North America
PSL-North America is a recently created joint venture controlled by PSL Limited, an Indian company based in Mumbai, with Indian and American partners. The parent company currently operates plants in seven cities in India. PSL Limited is among the largest spiral pipe manufacturers in the world, with annual installed capacity of over 1 million metric tons.
Expansion plans are being executed by PSL Limited to increase this capacity to 2 million metric tons by 2010. For more information, visit PSL-NA?s website at

About Mississippi Development Authority
Mississippi Development Authority is the State of Mississippi?s lead economic and community development agency. More than 250 employees are engaged in providing services to businesses, communities and workers in the state. While the agency is best known for its efforts to recruit new businesses to Mississippi, the Authority provides services to promote tourism, help communities improve their quality of place, help existing employers identify and meet opportunities and challenges and help workers improve their skills – all with the goal of improving the quality of life and economic well-being of Mississippians. For more information, visit MDA?s website at