Refex Industries Limited has secured a significant contract valued at approximately ₹32.45 crore, including GST, for the transportation of pond ash to NHAI PWD road construction sites. The order was awarded by a Maharatna Company, a Public Sector Undertaking (PSU), highlighting Refex Industries‘ growing footprint in the infrastructure sector.
The contract is domestic in nature and involves the transportation of pond ash, a by-product of coal combustion in thermal power plants, to various road construction sites managed by the National Highways Authority of India (NHAI) and the Public Works Department (PWD). This initiative is part of efforts to utilise industrial by-products in construction, thereby promoting sustainable practices.
The execution period for this contract is set at one year, with a provision for extension by an additional six months if required. This flexibility allows Refex Industries to adjust to project demands and timelines, ensuring efficient delivery and project management.
Importantly, the company has clarified that neither the promoter nor the promoter group has any interest in the awarding entity, and the contract does not constitute a related party transaction. This transparency aligns with regulatory requirements and reinforces the company’s commitment to ethical business practices.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).