Wholly owned subsidiary in Saudi Arabia awarded exclusive annual contract by CHEMANOL
Time Technoplast's wholly owned subsidiary in the Kingdom of Saudi Arabia (KSA) has been awarded an exclusive annual contract by Methanol Chemicals Company (CHEMANOL), Saudi Arabia.
By ScoutQuest · · 1 min read
- Contract Value
- approx. Rs.35 Crores (USD3.68 Million)
- Execution Period
- within one year
- Contract Scope
- supply of industrial packaging products — drums, jerry cans and IBCs
An order win through an overseas subsidiary
Time Technoplast's wholly owned subsidiary located in the Kingdom of Saudi Arabia (KSA) (Middle East) has been awarded an exclusive annual contract by Methanol Chemicals Company (CHEMANOL), Saudi Arabia. The contract is for the supply of industrial packaging products — drums, jerry cans and IBCs — and is to be executed within one year.
Size and counterparty
- The contract is sized at approximately Rs.35 Crores, or USD3.68 Million.
- The buyer, CHEMANOL, is described as a prominent Saudi Arabian chemical manufacturing company listed on the Saudi Stock Exchange (Tadawul), with an established presence in the production and marketing of methanol and its derivatives, serving diverse industrial applications.
- The order has been awarded by an international entity, and the contract itself is international in nature.
What the company says the order does
- Strengthens Time Technoplast's industrial packaging business in the Middle East.
- Reinforces its position as a supplier of industrial packaging solutions to chemical manufacturers.
- Enhances revenue visibility for the Middle East operations and supports its focus on expanding international business.
Relationship checks disclosed
- The promoter, promoter group or group companies have no interest in the entity that awarded the contract.
- The contract does not fall within related party transactions.
Points to keep in mind
- This is a disclosure of an order received, with the value stated as approximate.
- The contract runs for one year, so the revenue relates to supplies made over that period.
- The work is executed by a wholly owned subsidiary based in the Middle East, not by the listed entity directly.
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More numbers
- Order size (rupee)Rs.35 Crores
- Order size (US dollar)USD3.68 Million
- Time period for executionWithin one year
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