
Dilip Buildcon Ltd. announced that it has secured a new order worth ₹5,000 Crore mining and infrastructure contract. The company has received this order from the National Aluminium Company Ltd. (NALCO). The contract is to develop and operate a bauxite mine.
At around 12.54 PM, Dilip Buildcon was trading 1% higher at ₹434.40, against the previous close of ₹430 on NSE. The counter touched an intraday high and low of ₹447, and ₹425.15, respectively.
The business announced that it emerged as the L-1 bidder for MDO Contract for Development and Operation of Pottangi Bauxite Mines along with Overland Conveyor Corridor (OLCC) and allied facilities.
The contract received is for a period of 25 years. The company shall carry out engineering, procurement and construction (EPC) work for the first three years. The contract is worth ₹1,750 Crore and shall cover 7 Million Tonnes.
In the remaining 22 years, the company will carry out mining operations worth ₹3,250 Crore at existing rates (₹423/tonne), covering 77 million tonnes.
The work volume over the contract period aggregates to 84 Million Tonnes, having a total value of ₹5,000 Crore.
The company said that this transaction does not fall within the scope of related-party as none of its promoters held any stake in NALCO.
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