GE Power India Bags INR 550 Crore Contract for Fuel Conversion Project in Saudi Arabia
GE Power India Limited has secured a significant contract, receiving a Notice of Award (NOA) from an international entity for the Shoaiba Fuel Conversion Project in Saudi Arabia. The project involves providing both supply and technical advisory services related to boiler modifications for fuel conversion.The total cumulative value of the contract is estimated at approximately INR 550 Crores, with a projected execution duration of around 2.5 years.
Details regarding the awarded order are as follows:
| Detail Category | Information Provided |
|---|---|
| Awarding Entity | Dar Al Balad for Contracting and Operations Company Ltd., Saudi Arabia |
| Contract Nature | Two separate NOAs covering Supply and Service scope |
| Client Type | International entity |
| Project Scope | Supply along with Technical Field Advisory Services related to Boiler modifications for Fuel Conversion |
| Project Duration | Approximately 2.5 Years |
| Order Value | Cumulative value of approximately INR 550 Crores |
The transaction involves an international client, and GE Power India Limited confirmed that the promoter group has no interest in the entity awarding the contract. Furthermore, the order will not fall under related party transactions.
GVPIL Stock Price Movement
On Wednesday, GE Power India Limited shares rallied to close at ₹794.00, posting a robust 4.51% gain for the day. The stock traded in positive territory, with over 439,433 shares transacted during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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