SPP Pumps Secures Major International Order from Saipem for Vertical Pumps
Kirloskar Brothers Limited, through its international subsidiary SPP Pumps Ltd., has secured a significant order valued at GBP 11,674,520 from Saipem Offshore Construction SPA (Saipem). This contract is for the supply of Vertical Pumps and Spares.SPP Pumps Ltd. is recognized as Kirloskar Brothers Limited's flagship international subsidiary and holds a leadership position within the UK pump industry. The order represents a prestigious business development achievement for SPP in supplying these essential components to Saipem.
The transaction details encompass several key terms, including financial commitments and execution timelines.
A summary of the order specifics is detailed below:
| Particulars | Details |
|---|---|
| Name of Order Awarding Entity | Saipem Offshore Construction SPA |
| Nature of Contract | Supply of Vertical Pumps and Spares |
| Origin of Order | International entity |
| Total Order Value | GBP 11,674,520 (equivalent to approximately Rs. 149.59 crore) |
| Execution Period | 52 to 60 weeks from the receipt of the order |
Significant terms and conditions associated with the contract include requirements for performance bonds and warranty bonds. SPP is required to issue a Performance Bond equal to 10% of the contract value, and a Warranty Bond amounting to 5% of the contract value.
The order was secured from an international entity, confirming its nature as an international business contract for the subsidiary.
KIRLOSBROS Stock Price Movement
Kirloskar Brothers Limited shares slipped by 0.26% today, settling at ₹1929.9 as the market concluded trading. The stock saw a total traded volume of 92,515 shares 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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