TEGA Industries Consortium Secures ₹8.72B Contract with NMDC Ltd for Iron Ore Plant

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TEGA Industries Consortium Secures ₹8.72B Contract with NMDC Ltd for Iron Ore Plant

Team FS

27/Jun/2024

Key Points:

1: Contract Details: TEGA Industries consortium awarded ₹8.72B contract by NMDC Ltd for an iron ore screening and beneficiation plant.

2: TMML's Share: TMML's portion of the contract amounts to ₹1.20B.

3: Execution Timeline: The contract is scheduled to be completed over 26 months.

TEGA Industries, in partnership with other consortium members, has been awarded a significant contract by NMDC Ltd for the design and engineering of a new 7 MTPA iron ore screening and beneficiation plant. The total value of the contract awarded to the consortium amounts to approximately ₹8.72 billion, with TMML's share in the business totaling ₹1.20 billion.

This project is set to span over a period of 26 months, during which TEGA Industries and its partners will undertake critical tasks related to the establishment of the plant, aimed at enhancing NMDC's operational capabilities in the iron ore sector. The consortium's expertise in engineering and project management positions them well to deliver on the complex requirements of this substantial infrastructure initiative.

The contract underscores TEGA Industries' strategic expansion in the minerals processing sector and its commitment to delivering high-quality solutions to industry leaders like NMDC Ltd. Stay updated with Finance Saathi as we continue to monitor developments and provide insights into key business contracts and their implications for the industry and economy.

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TEGA Industries Consortium Secures ₹8.72B Contract with NMDC Ltd for Iron Ore Plant

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