Kalpataru Projects International Limited Banayega 800km Lambi Gas Pipeline

Описание: Kalpataru Projects International Limited (KPIL) Receives Letter of Intent from Aramco for MGS-3 Project

Kalpataru Projects International Limited (KPIL), formerly known as Kalpataru Power Transmission Limited, has announced that it has received a Letter of Intent (LoI) from Saudi Arabia's energy major Aramco. The LoI is for carrying out Engineering, Procurement, and Construction (EPC) work for three packages of the third expansion phase of the Master Gas System Network (MGS-3) in Saudi Arabia.

The scope of the EPC work includes the laying of over 800 kilometers of lateral gas pipeline. The exact contract value of the three packages will be confirmed upon contract execution. Kalpataru Projects and L&T had emerged as the lowest bidders for the MGS project, according to news reports. Kalpataru was the lowest bidder for three packages.

The Master Gas System is a $10-billion hydrocarbon network operated by Aramco, making it one of the largest in the world. The Phase 3 project aims to convert several power plants from oil to natural gas, aligning with Saudi Arabia's goal of a cleaner energy mix and achieving net-zero emissions. The expansion of the MGS-3 will enhance the gas network's capacity to meet the growing energy demand in the region and provide gas supply to various industrial consumers.

With a track record of over two decades in cross-country pipelines, processing facilities, refineries, and fertilizer plants, KPIL has successfully commissioned over 10,000 kilometers of oil, gas, and water pipelines. The company follows best global practices in project management, quality, and health safety environment (HSE).

Manish Mohnot, the Managing Director and CEO of KPIL, expressed his excitement about the sizeable EPC order, considering it a significant milestone and reaffirmation of the company's capabilities. He stated that the order will strengthen the company's order book profile and propel its oil and gas business towards robust growth.

KPIL is one of the largest specialized EPC companies engaged in various sectors such as Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways, and Airports.

In the Q3 of FY24, KPIL reported a consolidated net profit of Rs 144 crore, representing a 32% increase compared to the same period a year ago. The higher revenues contributed to this growth, with total income reaching Rs 4,910 crore in the December quarter, up from Rs 4,006 crore in the previous year.

The company's board has approved the proposal for the issuance of secured/unsecured redeemable Non-Convertible Debentures up to Rs 300 crore in one or more tranches. KPIL also announced that it has received new orders worth Rs 380 crore in Q4 FY24, bringing the Year to Date (YTD) FY24 order inflows to Rs 18,065 crore. The order book as of December 31, 2023, stands at Rs 51,753 crore, reflecting a 25% YoY increase.

As of Tuesday, shares of Kalpataru Projects International were trading at Rs 1,007.85, showing a 0.90% increase.

This EPC order from Aramco marks a significant achievement for KPIL and reinforces its position as a leading player in the industry. The company's expertise, experience, and commitment to excellence position it well for future growth and success in the oil and gas sector.

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