NMDC revokes cancellation of Chhattisgarh project contract to BHEL

V Rishi Kumar Hyderabad | Updated on September 03, 2019 Published on September 03, 2019

Public sector mining major NMDC has revoked the termination of a major contract it had awarded to BHEL relating to its upcoming steel plant in Chhattisgarh. The contract relates to the construction of a Raw Material Handling System at NMDC's under construction Integrated Steel Plant, Nagarnar, Bastar district of Chhattisgarh. This was being executed by BHEL-ISG Bengaluru division.

BHEL had on July 15, 2019, received a Notice of Termination dated July 13, 2019 from NMDC for the above contract. This was intimated to Stock Exchanges.

Read more: NMDC terminates Chhattisgarh project contract for BHEL

Subsequent to the discussions between two PSUs, NMDC has revoked the termination of the contract, BHEL informed BSE. At 12.30 pm, the stock of NMDC was trading 2.29 per cent lower at ₹81.20 and BHEL was trading 1.68 per cent lower at ₹49.70.

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Published on September 03, 2019
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