India’s Shriram EPC subsidiary wins $230M contract in Oman

WCN Editorial Team 24 Aug 2016 MIDDLE EAST BUILDINGS

Shriram EPC subsidiary Shriram EPC FZE, Sharjah, has won a $230M contract from UAE-based company Moon Iron And Steel for a ‘mini mill’ project in Sohar, Oman.

The scope of the contract will include the construction of the balance of plant (BoP) for the mill, which will have a capacity of 1.2 metric tonnes per annum.

Shriram EPC managing director and chief executive T. Shivaraman said: “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 contract has been awarded 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.

Work on the project is expected to be complete within 32 months.

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