Comments
McNally Bharat Engineering Co Ltd is betting big on a couple of overseas orders worth $85 million in the next 12 months.
Till date this fiscal, the total order book position of the BM Khaitan Group stands at around Rs 3,000 crore.
Amritanshu Khaitan, Director, told reporters after the company’s 50th AGM here on Friday that the majority of the overseas orders were to come from South Africa.
“These South African orders are going to help the company in terms of profitability and turnover growth,” Khaitan said.
According to Prabir Ghosh, Chief Financial Officer, the company had in October last year bagged an order worth $40 million from South African miner Sephaku Fluoride Ltd for setting up a 0.6-million fluorspar concentrate plant, which was scheduled to be ready by January 2014.
But the project implementation got delayed. Now, the project work has reached the take off stage.
The delay escalated the beneficiation project cost from $40 million to $48 million.
“We are also expecting order for another related project work worth $37 million,” Ghosh explained.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.