India's Kalpataru Projects lands $906m Saudi Aramco's EPC work
RIYADH, 29 days ago
India's Kalpataru Projects International Limited (KPIL) has announced that it has secured a major contract worth SAR3.4 billion ($906.6 million) from Saudi energy giant Aramco for carrying out engineering, procurement and construction (EPC) work for three packages of the third expansion phase of the Master Gas System Network (MGS‐3) in Saudi Arabia.
KPIL (formerly Kalpataru Power Transmission Limited) is one of the largest EPC companies listed in India.
It is a specialist in major sectors including power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, flyovers and metro rail, highways, and airports.
These contracts are for three different parts of the third expansion phase of the Master Gas System Network (MGS‐3) in Saudi Arabia.
According to KPIL, the scope of work covers laying of over 800 km of lateral gas pipeline.
In March, the company had announced that it had received a letter of intent (LoI) from Aramco to carry out EPC work for three packages of the third expansion phase of the MGS-3 in Saudi Arabia. However it did not reveal the figure then.
But now Kalpataru Projects has confirmed the contract value of the three packages in the bourse filing at Rs75.5 billion (which is equivalent to SAR3.4 billion).
"KPIL is focused on strengthening its presence in the oil and gas market in the Middle East region over the past few years," remarked Manish Mohnot, the Managing Director and CEO of Kalpataru Projects.
"This order serves as a resounding testament to our commitment to strengthen our presence across the value chain in the global oil and gas EPC business," he added.-TradeArabia News Service
