HSL inks Rs 66-cr contract with L&T Hydrocarbon Engg Ltd
Hindustan Shipyard Limited (HSL), which is under the administration of Ministry of Defence has signed a Rs 66-crore contract with L&T Hydrocarbon Engg Ltd as part of its diversification.
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Visakhapatnam: Hindustan Shipyard Limited (HSL), which is under the administration of Ministry of Defence has signed a Rs 66-crore contract with L&T Hydrocarbon Engg Ltd as part of its diversification.
The company said as part of resolve to explore new possible opportunities to diversify into various market segments along with its core business of shipbuilding, ship repairs and submarine repairs, it recently signed an order worth Rs 66 crore with L&T Hydrocarbon Engineering Ltd (LTHE) for optimum utilisation of its spare infrastructure and capacity.
LTHE has been awarded a contract for fabrication works of technological modules for HPCL. In pursuance of the performance of the contract, an agreement was signed between HSL and LTHE. Under this agreement, HSL shall facilitate fabrication and assembly of technological modules for LTHE through its subcontractor Pentaglobal Engineering and Construction Pvt. Ltd at HSL's yard/premises. HSL in a statement welcomed the New Year with a new business avenue and successful attempts at diversification for growth of the company.
