Agarwal Industrial Corporation Limited (AICL), a leading player in the industrial supply sector, has announced a strategic supply agreement with Hindustan Petroleum Corporation Limited (HPCL) worth Rs 255 crore.
The agreement outlines the terms for the supply of Bulk Bitumen VG30 & VG40 from AICL’s Taloja Unit. This significant deal is set to enhance the company’s portfolio and contribute to its growth in the bitumen supply sector.
In the exchange filing, the company shared, “AGARWAL INDUSTRIAL CORPORATION LIMITED (“the Company” or “the Seller”) has entered into Supply Agreement for Bulk Bitumen -VG30 & VG40, with Hindustan Petroleum Corporation Limited (a government of India Enterprise) (“HPCL” or “the Buyer”) for the supply of Bulk Bitumen – VG30 & VG40 conforming to IS 73-2013, from Companies Taloja Unit as per the requirement of HPCL.”
Key Highlights of the Supply Agreement:
- Agreement Duration: The initial term of the agreement is for one year, with the possibility of extension for another year at HPCL’s discretion.
- Quantity of Supply:
- VG30 Bitumen: 49,000 Metric Tons (MT)
- VG40 Bitumen: 9,000 Metric Tons (MT)
- Total Deliverable Value: Approximately INR 255 Crores, based on the terms and conditions set out in the tender.
- Quality Assurance: The Bulk Bitumen VG30 & VG40 supplied will conform to IS 73-2013 standards, ensuring high-quality products for HPCL’s needs.
