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Shares of Kalpataru surge on securing major EPC contracts for a project in Saudi Arabia

06 March 20243 mins read by Angel One
The project aims to expand the existing gas network, enhance energy security, and meet growing regional demand.
Shares of Kalpataru surge on securing major EPC contracts for a project in Saudi Arabia
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About the contract

Kalpataru Projects International Limited (KPIL), a leading Indian EPC company, has secured significant contracts from Saudi Aramco for the Master Gas System Network (MGS-3) expansion project in Saudi Arabia. This project marks a major milestone for KPIL, solidifying its position as a trusted partner in the global oil and gas sector.

KPIL will be responsible for the EPC work of three packages, laying over 800 kilometres of lateral gas pipelines. The project aims to expand the existing gas network, enhance energy security, and meet growing regional demand. With two decades of experience in cross-country pipelines and a strong commitment to quality and safety, KPIL is well-equipped for this project.

“We are delighted and truly proud to be entrusted by Aramco to undertake EPC work for the MGS-3 project. This is a significant milestone and reaffirms global acknowledgment of our capabilities. This order strengthens our presence in the Middle East oil and gas market and positions us for robust growth in the future,” said Manish Mohnot, MD & CEO.

This project will not only contribute to Saudi Arabia’s energy security and transition but also significantly enhance KPIL’s order book and solidify its position as a key player in the global oil and gas EPC sector.

Share Price Movement

The shares of Kalpataru Projects Ltd surged 2.19% or 21.90 points to Rs 1,020.80 as compared to the previous day’s closing of Rs 998.90. Today the share opened at Rs 1,030 and touched intraday highs and lows of Rs 1,043.25 and Rs 1,018.45 respectively. The share has a 52-week high and 52-week low of Rs 1,043.45 and Rs 485.

About the company

Kalpataru Projects International Limited is one of the largest specialized EPC companies engaged in power transmission & distribution, buildings & factories, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airports. KPIL is currently executing projects in over 30 countries and has a global footprint in over 70 countries. KPIL has maintained a leadership position in all its major businesses backed by strong organisational capabilities, superior technical know‐how, and adherence to best‐in‐class sustainability standards.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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