McNally Bharat bags Rs 116 cr contract from SAIL

McNally Bharat Engineering today said it has bagged a Rs 115.92-crore contract from state-run Steel Authority of India (SAIL) for a water supply system project at its Burnpur plant.

IISCO plant of SAIL "has accepted the company's offer for water supply system for CCP & BOF for a total price Rs 115.92 crore", the company said in a filing to the Bombay Stock Exchange.

The project would be completed in 18 months, the company added.

Further, in a separate filing to the BSE, McNally Bharat said that its Asansol plant in West Bengal has been "put to use" and commercial production from the factory has started from March 1.

 

Shares of McNally Bharat surged over 3 per cent and were trading at Rs 32 in the afternoon trade on the BSE.