Mumbai, Aug. 28 -- Refex Industries (RIL) has secured two domestic contracts aggregating to Rs 337 mn for fly ash handling works, the company disclosed in a filing. The contracts cover loading, transportation and excavation of fly ash and are to be executed within 120 days. The disclosure was made under the Securities and Exchange Board of India Listing Regulations and is intended for dissemination to stock exchanges. The orders align with the company's existing services in materials handling and construction waste management, reinforcing its operational footprint in the region.
The larger contract relates to loading and transportation of fly ash and was awarded by an entity based in Telangana. The contract value is approximately Rs 327.8 mn including GST and the scope includes mobilisation, handling and movement of material to designated disposal sites. RIL will mobilise equipment and workforce from its regional operations to meet the contractual timelines. RIL will complete the scope within 120 days as stipulated in the agreement.
The second contract covers excavation of fly ash and was also awarded by an entity based in Telangana. The consideration for this work is about Rs 9.1 mn including GST and the activities are scheduled to conclude within the same 120 day period. The works will be executed in compliance with applicable environmental and safety regulations as reflected in the contract terms. Both contracts are domestic in nature and form part of the company's routine order book.
The company stated that neither the promoter group nor group companies have any interest in the contracting entities and that the contracts do not constitute related party transactions. The contracts are expected to contribute to near term revenue visibility while adhering to statutory and compliance requirements. The company will update the market on material developments as required by listing norms. The company secretary submitted the disclosure to the exchanges for record.
Published by HT Digital Content Services with permission from Construction World.