BHEL Lands Order Worth Over Rs 2,000 Crore from Nigerian Client
BHEL Secures Order Worth Rs 2,000-2,500 Crore from Nigerian Entity
State-owned Bharat Heavy Electricals Limited (BHEL) has secured a significant contract from a Nigerian entity, valued between Rs 2,000 crore and Rs 2,500 crore.
According to a regulatory filing, the contract agreement was signed with Nigeria's Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise on June 2. The order is for the design, manufacturing, supply, and supervision of erection and commissioning of eight gas turbine generator packages for the petroleum refinery and polypropylene plant in Dangote Industries Free Zone, Nigeria.
The contract, which is expected to be executed within 26 months from the start date or the effective date of the agreement, marks a major development for BHEL in its international business endeavors.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Investor Takeaway
BHEL's order from a Nigerian client is a positive development for the company.
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