Desco Infratech Ltd emerges L1 Bidder for ONGC Pipeline Replacement Project

Desco Infratech Limited has emerged as the L1 (Lowest Bidder) for the following project floated by Oil and Natural Gas Corporation Limited (ONGC):

"Replacement of 24 Inch Crude Oil Transfer Pipelines from ONGC Trombay Terminal to BPCL and HPCL Refineries at Uran Plant"

As per the BOQ Summary Details, the Company secured the first position (L1) amongst various industry participants. This development marks another significant milestone in the Company's expanding footprint within India's oil & gas and hydrocarbon infrastructure sector.

The scope of the project involves replacement and strengthening of critical crude oil transfer pipeline infrastructure connecting the ONGC Trombay Terminal with refinery facilities of BPCL and HPCL at Uran Plant. The project is strategically important for ensuring safe, efficient, and uninterrupted transportation of crude oil within the country's energy infrastructure network.

The execution of the project is expected to involve advanced engineering practices, pipeline infrastructure expertise, stringent safety standards, and operational efficiency - areas in which the Company has consistently demonstrated strong technical and execution capabilities.

Oil and Natural Gas Corporation Limited (ONGC), a Maharatna Public Sector Enterprise, is one of India's largest and most reputed energy companies. ONGC plays a pivotal role in strengthening India's energy security and contributes substantially towards the country's crude oil and natural gas production.

With decades of operational excellence, ONGC has been instrumental in developing and modernizing India's upstream and midstream hydrocarbon infrastructure and continues to undertake strategic investments in modernization, sustainability, and energy infrastructure development.

Association with ONGC projects reflects robust technical qualifications, execution capabilities, and adherence to high operational and safety standards.

Strategic Significance

This achievement further strengthens Desco Infratech Limited's order pipeline and reinforces its positioning in the oil & gas infrastructure segment. The Company continues to focus on strategic opportunities in pipeline construction, gasification systems, industrial engineering, and energy infrastructure projects across India.

The management remains optimistic about the Company's long-term growth prospects, supported by strong execution capabilities, increasing participation in large-scale infrastructure projects, and expanding opportunities within the energy sector.

Shares of Desco Infratech Limited was last trading in BSE at Rs. 236.30 as compared to the previous close of Rs. 225.05. The total number of shares traded during the day was 58000 in over 100 trades.

The stock hit an intraday high of Rs. 236.30 and intraday low of 213.80. The net turnover during the day was Rs. 13101375.00.

Source : Equity Bulls

Keywords

DescoInfratech INE0TGG01014 CivilConstruction L1 ONGC Project