Deals29 Nov 2024, 10:10 pm
GP Petroleums Limited Enters into a One-Year Supply Agreement for Bulk Bitumen - VG 30 with Hindustan Petroleum Corporation Limited
AI Summary
GP Petroleums Limited (the Seller) has entered into a Supply Agreement for Bulk Bitumen - VG 30 with Hindustan Petroleum Corporation Limited (HPCL or the Buyer). The agreement, not with a related party, is for the supply of Bulk Bitumen - VG30 conforming to IS 73-2013 at various locations as required by HPCL. The initial order period for the agreement is one year, extendable for a further period of 1 year at HPCL's discretion. The approximate quantity of bitumen to be supplied is 50,000 MT, with a total deliverable value of approximately Rs. 223 Crores.
Key Highlights
- GP Petroleums Limited has entered into a Supply Agreement for Bulk Bitumen - VG 30 with Hindustan Petroleum Corporation Limited.
- The agreement has an initial order period of one year, with a possible extension for another year.
- The approximate quantity of bitumen to be supplied is 50,000 MT.
- The total deliverable value of the agreement is approximately Rs. 223 Crores.
- The agreement is not with a related party and has been entered into at arm’s length basis.