Deals10 Aug 2024, 12:10 am
Mazagon Dock Shipbuilders Ltd Receives INR 4676 Crore Contract from ONGC
AI Summary
Mazagon Dock Shipbuilders Ltd (MDL) has received a Notification of Award of Contract from Oil and Natural Gas Corporation Limited (ONGC) for Wellhead Platforms and Associated Pipeline Project (DSF-II) on EPC reimbursable basis. The contract is worth INR 4676,32,59,503/- (INR Four Thousand Six Hundred Seventy-Six Crores, Thirty-Two Lakhs, Fifty-Nine Thousand Five Hundred and Three only) including all taxes and duties (GST @ 12%). The project is to be executed by 31.05.2026.
Key Highlights
- MDL received a Notification of Award of Contract from ONGC for Wellhead Platforms and Associated Pipeline Project (DSF-II).
- The contract is worth INR 4676,32,59,503/- including all taxes and duties (GST @ 12%).
- The project is on EPC reimbursable basis and is to be executed by 31.05.2026.
- Both MDL and ONGC are government companies as per Section 2(45) of the Companies Act, 2013 under the Government of India.
- The order/ contract does not fall within the related party transaction.