- Secures deal worth 415 crores from Singareni Collieries and 19 crores from HAL
Hyderabad. 19 May 2022. GOCL Corporation Limited, a Hinduja Group Company and a leading manufacturer of energetics and commercial explosives in India secured INR 415 crores deal from Singareni Collieries Company Limited (SCCL). Singareni Collieries is a government-owned-coal mining corporation. Through this deal, GOCL will supply a range of equipment for a span of two years (2022-2024) across its operations. The supplies will include delivery of bulk explosives worth INR 351 crores, LD explosives worth INR 42 crores and accessories worth INR 21 crores approximately. The order resulted in a 40% price hike over the base price and a 5% relaxation in the Powder Factor penalty clause.
GOCL Corp Ltd has also recently received a purchase order from Hindustan Aeronautics Limited, an Indian state-owned aerospace and defence company to supply Canopy Severance Systems (CSS) worth INR 19 crores. This has emerged as the single largest order received by the Special Products Group of GOCL Corp Ltd.
Commenting on the developments, Pankaj Kumar, CEO, GOCL shared “GOCL is committed to ‘Make in India’ philosophy and is working towards developing indigenous products and services for the nation. The recent agreements signed with leading government enterprises are a resounding acknowledgment of the assured quality and adherence to safety that GOCL is synonymous with. We look forward to continuing strong partnership and we are confident that our products will help deliver unmatched value to our esteemed customers.”
GOCL’s Energetics Division is keenly focused on developing value-added products, non-electric detonators and boosters, and the company is well on track with its ongoing transition from electric to electronic detonators, in line with government recommendations and evolving customer requirements.