Sharjah-based Shriram EPC FZE, a leading engineering, procurement and construction contractor, has secured a $230 million contract to construct the balance of plant of a steel mill in Sohar, Oman.
The 1.2-million-tonnes-per-annum mini mill project is being developed by Moon Iron and Steel, an Oman-based company having investments from Gulf Investment Corporation, Oman Development Fund and Sultans Special Forces Pension Fund. The project comes with an execution period of 32 months.
Shriram EPC FZE is a fully-owned subsidiary of India-based Shriram EPC (SEPC), a major provider of integrated design, engineering, procurement, construction and project management services for infrastructure projects in roads and highways, water and sewerage, renewable energy, process and metallurgical plants and municipal service sector projects.
T Shivaraman, managing director and CEO of Shriram EPC Limited, said, The recent order win is a big step forward for the company through our 100 per cent subsidiary. The order win demonstrates the operating excellence of our team. Given the slowdown in the steel and metals business in India with capacity expansions on hold, this overseas order will enable us to maintain and strengthen our position in this sector. It will also give us a strong base to expand our business in the Middle East market."
The 1.2-million-tonnes-per-annum mini mill project is being developed by Moon Iron and Steel, an Oman-based company having investments from Gulf Investment Corporation, Oman Development Fund and Sultans Special Forces Pension Fund. The project comes with an execution period of 32 months.
Shriram EPC FZE is a fully-owned subsidiary of India-based Shriram EPC (SEPC), a major provider of integrated design, engineering, procurement, construction and project management services for infrastructure projects in roads and highways, water and sewerage, renewable energy, process and metallurgical plants and municipal service sector projects.
T Shivaraman, managing director and CEO of Shriram EPC Limited, said, The recent order win is a big step forward for the company through our 100 per cent subsidiary. The order win demonstrates the operating excellence of our team. Given the slowdown in the steel and metals business in India with capacity expansions on hold, this overseas order will enable us to maintain and strengthen our position in this sector. It will also give us a strong base to expand our business in the Middle East market."