ECIL adds new client to its portfolio by winning Rs 97 cr contract from Jindal Stainless

  • IANS
  • Stock Market News
ECIL adds new client to its portfolio by winning Rs 97 cr contract from Jindal Stainless
Credit: © Reuters.

New Delhi, Sep 16 (IANS) In a social media post, Essar Constructions India Limited has claimed to have added Jindal Stainless (NS: JIST ) Ltd. as its client by winning a Rs 97-crore contract.

Essar Constructions India Ltd. (ECIL) -- the Indian arm of Essar Projects -- has taken yet another step forward and added Jindal Stainless Ltd. as a new Client to its portfolio by bagging a contract worth around Rs 97 crore for Mechanical works for 2307 cum Blast Furnace at Jajpur.

Speaking on the occasion, Sejal Jani, Head - Business Development, Tendering & Estimation, ECIL stated, "As we take gradual steps towards building a robust order book, widening the portfolio of Clients has also been of importance. While we reach out to showcase our capabilities and connect with new Clients, we fully acknowledge that efficient execution is crucial to uphold our image in the market.

"ECIL has been strengthening its foothold in the Minerals & Metals domain. Time and cost effective deliveries of orders won during the past one year has not only led to repeat orders, but also enhanced overall market confidence, leading to opening of new doors!"

Formed in May 2017 to pursue EPC business interests in India and the subcontinent, as a relatively new company, ECIL's rise was initially slow, yet steady.

Over the past five years the strategy has been to take baby-steps in strength areas, get a footing in the market and then explore wider opportunities. The first four years saw the Engineering Division of ECIL steadily making breakthroughs with established as well as new clients.

Alongside, the EPC Division was working steadfastly towards showcasing the inherent strengths and execution capabilities, rebuilding relationships with old clients and partners as well as connecting with new ones.

It was quite an uphill task to regain market confidence. Nonetheless, consistent efforts towards reinstating market confidence in their execution capabilities and competitive pricing paved the way for new order bookings involving construction scope, while efficient projects delivery and customer satisfaction has been leading to repeat orders.

Jindal Stainless (JSL) -- founded in 1970 -- is India's first "swadeshi" stainless steel company, and currently serves customers across 60 countries.

They are one of the largest stainless steel conglomerates in India, and rank amongst the top 10 in the world. With production facilities at Jajpur, Odisha (1.1 MTPA) and at Hisar, Haryana (0.8 MTPA), JSL has expansion plans for Jajpur to ramp up the capacity to 3.2 MTPA in a phased manner. To align with these expansion plans, as part of backward integration, the iron making capacity is being enhanced and a 2307 cum Blast Furnace is being set up at Jajpur. ECIL Order is part of these expansion works.



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