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India,Oman : Shriram EPC wins US$230mn contract in Oman
Publish Date : 29-Aug-2016
Chennai, India-based Shriram EPC, through its wholly-owned subsidiary Shriram EPC FZE, Sharjah, has won a US$230mn contract from Omans Moon Iron & Steel Co SAOC.
Shriram EPC is one of India's leading providers of integrated design, engineering, procurement and construction and project management services for infrastructure projects.
The order includes construction of the balance of plant for a 1.2 MTPA mini mill project in Sohar.
The project execution period will be of around 32 months. The project debt is funded by a consortium of Omani banks.
T Shivaraman, managing director and CEO of Shriram EPC Ltd, said, The recent order win is a big step forward for the company through our 100 per cent subsidiary. The order win demonstrates the operating excellence of our team. Given the slowdown in the steel and metals business in India with capacity expansions on hold, this overseas order will enable us to maintain and strengthen our position in this sector. It will also give us a strong base to expand our business in the Middle East market.
