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Ducon announces strategic tie up with Sterling & Wilson to bid on large FGD projects in India

Posted On: 2019-06-26 11:11:25

Ducon Infiatechnologies Limited (BSE:534674, NSE: DUCON), ("DUCON") an emerging technology company providing solutions in the Industrial, infrastructure & digital space to multiple business segments across varied industries announced that it has entered into Strategic tie up with Sterling & Wilson Private Limited, a flagship group company of Shapoorji Pallonji group, to jointly bid large size FGD tenders. The joint bidding exercise has significantly expanded our financing capabilities to bid successfully for large FGD projects which were earlier not biddable solely by them or us as an individual entity and has created a win-win situation for both the parties. Moreover, Ducon brings technical qualification to this exercise ofjoint bidding for benefits of both parties.

Sterling & Wilson Private Limited is a leading EPC company in the area of Renewable Energy, Construction, and Transmission & Distribution etc. The flagship company of Shapoorji & Pallonji has a rich legacy of 150 years and a consistent superior track record in each domain of its operations. The group today has a strong presence in India and internationally including the Middle East and Afiica. Considering the massive influx of FGD tenders, DUCON had decided to capitalize on the maximum FGD project opportunities by either sole bidding on smaller projects or joint bidding with another reputable EPC company on large FGD projects. With this strategy, DUCON is bidding on extensive number of FGD projects both small and medium size projects independently and large projects via joint bidding.

The Company has already submitted bids through the joint bidding and will continue to bid more projects with Sterling & Wilson. DUCON remains hopeful to win some of these projects as and when they are decided.

Shares of Ducon Infratechnologies Ltd was last trading in BSE at Rs.8.45 as compared to the previous close of Rs. 8.6. The total number of shares traded during the day was 169898 in over 465 trades.

The stock hit an intraday high of Rs. 8.9 and intraday low of 7.75. The net turnover during the day was Rs. 1357773.


Source: Equity Bulls

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