Mumbai, June 8 -- Under the terms of the contract, payments will be made through a 100% irrevocable letter of credit (LC). The payment schedule includes 15% advance against submission of an Advance Bank Guarantee (ABG), 15% upon approval of the layout, 50% along with applicable taxes against equipment inspection, 10% upon receipt of material at the project site, and the remaining 10% after installation and commissioning against submission of a Performance Bank Guarantee (PBG).

The company said the equipment will be manufactured as per the specified requirements and delivered within 8 to 10 months from the date of order confirmation on a door-delivery basis.

The company further clarified that the transaction does not qualify as a related...