Deals1 Jul 2024, 08:57 pm
Gandhar Oil Refinery Subsidiary Secures USD 45 Million Contract from Abu Dhabi National Oil Company
AI Summary
Gandhar Oil Refinery (India) Ltd announced that its foreign material subsidiary, Texol Lubritech FZC, has been awarded a contract from Abu Dhabi National Oil Company (ADNOC) Distribution. The contract, valued at approximately INR 375 Crores per year, is for the manufacture, packaging, labeling, and supply of products on a contract basis. The forecasted annual volume is 30,000,000 Litres for each year 2024, 2025, and 2026. The contract is international, and no related party transactions are involved.
Key Highlights
- Gandhar Oil Refinery's subsidiary secures a USD 45 million contract from Abu Dhabi National Oil Company
- Contract value is approximately INR 375 Crores per year for 3 years
- The contract involves manufacturing, packaging, labeling, and supplying products for ADNOC Distribution
- The forecasted annual volume is 30,000,000 Litres for each year 2024, 2025, and 2026
- No related party transactions are involved