Shriram EPC has revealed that the company has secured two orders with combined worth of Rs. 809.7 million from Rashtriya Ispat Nigam for its Visakhapatnam Steel Plant.

According to the sources, the first order will execute design, manufacture, supply of indigenous plant and machinery and equipment for the Special Bar Mill (SBM). Whereas, the second order carry out storage, handling, erection, testing, commissioning and PG tests for the SBM.

The sources also revealed that Visakhapatnam Steel Plant is diversifying its liquid steel capacity to 6.3 million tons per annum and these two orders are a part of the overall project.  

The proposed project is scheduled to be completed with in 27 months.

Commenting on the orders, Mr. T. Shivaraman, Managing Director & CEO of Shriram EPC remarked, “We are delighted to work with Rashtriya Ispat Nigam to help them to scale up their capacities at the prestigious Vishakapatanam Steel Plant. This order win, in conjunction with our consortium partners, is a testimony to the quality of our offerings. We continue to do well when bidding for highly competitive business contract and the operating environment also remains conducive, which provides us with a buoyant outlook as we enter the second half of the year.”

Shriram EPC is India’s leading player in supplying integrated design, engineering, construction and project management services for renewable energy projects.

Stock of Shriram EPC closed at Rs 235, down 1.61 percent on National Stock Exchange. The total volume of shares traded was 1,178 at the NSE.