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Shriram EPC wins $230m Oman steel mill contract

CHENNAI, India, August 24, 2016

Sharjah-based Shriram EPC FZE, a leading engineering, procurement and construction contractor, has won a contract worth $230 million for constructing the balance of plant of a steel mill in Sohar, Oman.

The 1.2-million-tonnes-per-annum mini mill project is being built by Moon Iron and Steel, an Oman-based company with investments from Gulf Investment Corporation, Oman Development Fund and Sultan’s Special Forces Pension Fund.

Shriram EPC FZE is a 100 per cent subsidiary of India-based Shriram EPC (SEPC), a leading 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.

The project has an execution period of 32 months, said a Shriram EPC press statement.

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." -TradeArabia News Service




Tags: Oman | Sharjah | Steel mill |

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