Business Update5 May 2026, 06:01 pm
GP Petroleums JV Bags ₹74 Cr Order from Indian Oil
AI Summary
GP Petroleums Ltd's joint venture company, Amron Oil Resources Private Limited, has been awarded a Letter of Acceptance (LOA) by Indian Oil Corporation Limited for the supply of 9000 MT of VG 30 and 6000 MT of VG 40 at Pipavav. The contract, valued at ₹74,03,91,000 (including 18% GST), is to be executed within twelve months from the date of contract placement, with a possible extension of another 12 months based on mutual consent. The order is domestic in nature.
Key Highlights
- Amron Oil Resources, a JV of GP Petroleums, secures LOA from Indian Oil Corporation.
- The order is for supplying 9000 MT of VG 30 and 6000 MT of VG 40 at Pipavav.
- Contract value is ₹74.04 Cr, inclusive of 18% GST.
- The order execution timeline is twelve months, extendable by another twelve months.
- The order is domestic and does not involve related party transactions.