GBL Infra Engineering Services Pvt Ltd receives order worth Rs. 12.23 crore

GBL Infra Engineering Services Private Limited (GBL IES), a wholly owned subsidiary of Ganesh Benzoplast Limited (GBL), announces the receipt of its first prominent order worth Rs. 12.23 crore, from ANA Oleo Pvt Ltd to build Sixty (60) Liquid Storage tanks to be completed within a period of 9 months, for their Edible Oil Refinery project at Krishnapatnam Port, Andhra Pradesh. We are enclosing media release with additional details for our shareholders.

ANA Oleo Pvt Ltd, part of ANA Oils - a joint venture between APICAL (USD 25 billion Group RGE Enterprise) & ACALPO (Singapore based global commodity group), has entrusted the entire project with GBL IES placing them amongst top developers of liquid storage tanks across Indian ports.

Leveraging on GBL's expertise to build storage tank terminals and pipelines for port connectivity, GBL IES now finds itself in the epi centre of Krishnapatnam's expansion. The port is looking at an ambitious growth plan, entailing USD 2 billion worth of investment. Not only does this open door to Phase II of the project (structural & piping works), but also introduces GBL, to opportunities at the Eastern Ports of India for new projects and establishing a permanent pipeline connectivity across the country, from the port jetty to the refinery plant, marking GBL as a key player in the liquid storage EPC field.

Commenting on this development, Mr. Rishi Pilani (Chairman & Managing Director - GBL) said, "The receipt of this order only goes to further establish GBL's credibility as one of the key players in building liquid storage terminals. We are proud to be associated with a company, as substantial as ANA Oils. With the world economy constantly changing and opening up to new and unexpected events, it is important for us, to play a part in helping our nation make progress towards, efficiency and sustainability. We look forward to a positive future of GBL and prepare ourselves for what's to come."

Shares of GANESH BENZOPLAST LTD. was last trading in BSE at Rs. 126.25 as compared to the previous close of Rs. 127.00. The total number of shares traded during the day was 30713 in over 739 trades.

The stock hit an intraday high of Rs. 128.30 and intraday low of 126.00. The net turnover during the day was Rs. 3888677.00.

Source : Equity Bulls

Keywords

GANESHBENZOPLAST INE388A01029 OrderWin GBLInfraEngineeringServices ANAOleo EdibleOilRefineryProject Krishnapatnam