Business Update23 Apr 2026, 05:21 pm
Azad Eng Signs Amendment to Supply Agreement with Nuovo Pignone
AI Summary
Azad Engineering Limited has signed Amendment No. 3 to its Strategic Supply Agreement with Nuovo Pignone S.r.l. (Baker Hughes company) on April 23, 2026. The amendment addresses a significant increase in annual demand for critical turbomachinery components used in power generation. The original agreement, executed on March 6, 2024, remains in force for five years, expiring in CY 2030. This move aligns with Azad Engineering's strategy to strengthen partnerships with global OEMs and expand its presence in the energy equipment supply chain.
Key Highlights
- Azad Engineering amends strategic supply agreement with Nuovo Pignone.
- Amendment addresses increased demand for turbomachinery components.
- Original agreement remains effective until CY 2030.
- The deal strengthens Azad's partnership with global OEMs.
- Amendment aligns with Azad's expansion in the energy equipment supply chain.