GP Petroleums' JV Amron Oil awarded ₹74 Crore Bitumen Supply Contract by IOCL
GP Petroleums' JV, Amron Oil Resources, received a Letter of Acceptance from Indian Oil Corporation Limited. The contract is for supplying 9000 MT of VG 30 and 6000 MT of VG 40 bitumen at Pipavav. The order value is ₹74.04 Crore including GST, with a twelve-month execution period.
The contract value of ₹74.04 Crore is material for the company and represents new business secured by its joint venture.
The company's joint venture has secured a significant contract from a major player like Indian Oil Corporation Limited, which is a positive development.
GP Petroleums Limited announced that its Joint Venture company, Amron Oil Resources Private Limited, has been awarded a Letter of Acceptance (LOA) by Indian Oil Corporation Limited (IOCL).
The contract involves the supply of 9000 MT of VG 30 and 6000 MT of VG 40 grades of bulk bitumen at Pipavav. The total consideration for this order is ₹74,03,91,000 (Rupees Seventy-Four Crore Three Lakhs Ninety-One Thousand Only), inclusive of 18% GST.
The execution period for this contract is twelve months from the date of placement, with a potential for a further twelve-month extension upon mutual consent. This is a domestic contract awarded by a domestic entity.
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GP Petroleums Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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