Business IdeasJaihind Projects to complete all contracts by May 2010
Ahmedabad-based oil and gas pipeline infrastructure company Jaihind Projects Ltd. has announced that it will fulfill all its seven commitments by end of May 2010. The company recently got various contracts worth Rs 375 crore.
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According to company sources, "We have seven contracts to complete and more than 70 per cent work is finished in every project. The company is hoping to complete all works by end of May next year."
The company has been awarded projects by prestigious clients like GAIL, GSPL, MNGL, BRPL, Cairn Energy, IOL, BPCL, ONGC, all leading lights in this industry. Out of the seven project, valued at Rs 514.7 crore, three are with the Gujarat government. Jaihind Projects is also working for Maharashtra Natural Gas Ltd., Brahmani River Pellets Ltd., Bhubaneswar and Hindustan Petroleum Corporation Ltd. and GAIL.
Recently, the company was also awarded the Morbi Mundra Pipeline Project by GSPL worth 206.53 crore which is set to commission soon. The order book from GAIL, HPCL, Gujarat Gas and GSPL amounts to Rs 375 crore.
In last four years, Jaihind Projects" annual turnover has increased more than five times from Rs 62 crore in the year 2005-06 to Rs 323 crore in the year 2008-09.