Solar Industries India Ltd. bags orders worth Rs. 1144 cr from Coal India
Nagpur, Nov 1 (IBNS): Solar Industries India Ltd., a manufacturer and exporter of commercial explosives and explosives initiating systems, has bagged orders worth Rs. 1144 cr from Coal India Ltd.
Solar Industries won Coal India’s recently concluded tender for supplying 375,412 MT Bulk Explosives to the subsidiaries of Coal India Ltd. amounting to Rs. 1143.63 cr.
The order is to be executed between Nov 1, 2017 and Oct 31, 2019.
The share of Solar Industries in the tendered quantity was 28% in the previous order, which has now increased to 36%.
Commenting on the development, Roomie Dara Vakil, Executive Director, Solar Industries India Limited said, “We are glad to receive orders from Coal India Ltd., which is the world’s largest consumer of explosives in India. This is the biggest order we have received recently. We are confident that we will execute the orders within the stipulated period."
"The running contract is valid for two years and Solar Industries will be supplying 182,204 MT bulk explosives (worth Rs. 555.52cr) till 2018 and the rest 193,208 MT (worth Rs. 588.11cr) will be supplied till 2019," Vaki said.
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