Dilip Buildcon Secures Rs 5000 Crore Contract from NALCO
Filing Summary
Dilip Buildcon Limited has received a Letter of Award for a contract valued at Rs 5000 Crores from the National Aluminium Company Limited (NALCO). The contract involves the development and operation of the Pottangi Bauxite Mines, including the Overland Conveyor Corridor and allied facilities. The project is divided into two phases: an EPC work phase for three years and a mining phase for the remaining 22 years. The trading window for Dilip Buildcon’s securities will remain closed until 48 hours after this information is publicly available.
Dilip Buildcon Limited has announced the receipt of a Letter of Award for a significant contract from the National Aluminium Company Limited (NALCO). The contract pertains to the development and operation of the Pottangi Bauxite Mines, including the Overland Conveyor Corridor and allied facilities. The total contract value is Rs 5000 Crores, excluding GST.
The project is structured into two main phases. The first phase involves EPC work over a period of three years, which includes the construction of the Overland Conveyor Corridor, road, water intake facility, and mining and transportation activities. This phase covers a quantity of 7 million tonnes and is valued at Rs 1750 Crores. The second phase involves mining activities for the remaining 22 years, covering a quantity of 77 million tonnes, valued at Rs 3250 Crores at current mining charges of Rs 423 per ton.
The contract is a domestic agreement awarded by NALCO, a Government of India enterprise. The total duration for the execution of the contract is 25 years. There is no interest from the promoter or promoter group companies in NALCO, and the contract does not fall under related party transactions.
As per the company’s code of conduct and SEBI regulations, the trading window for dealing in Dilip Buildcon’s securities will remain closed for all insiders, designated persons, and their immediate relatives until 48 hours after the information is made publicly available.
National Aluminium Company Limited (NALCO) is a public sector enterprise under the Ministry of Mines, Government of India. It is involved in the mining, production, and export of alumina and aluminum, playing a significant role in the Indian aluminum industry.
Dilip Buildcon Limited is a prominent infrastructure development company in India. It focuses on the construction of roads, bridges, and mining projects. The company is known for its expertise in executing large-scale projects and aims to expand its footprint in the infrastructure sector through strategic contracts and partnerships.