RMC Switchgears Limited has announced that it has received Letters of Intent (LOI) worth ₹27.94 crore (inclusive of taxes) from Aarka Corporation Private Limited for the supply of Fiber Reinforced Plastic (FRP) fencing.
The order involves supplying FRP fencing for fixing and securing distribution transformer centres across multiple locations in Bhandup, Kalyan, Nashik, and Pune zones, in line with the manufacturing milestone schedule provided by the client.
According to the company, the contract has been awarded by a domestic entity and falls under the supply of items category. The work is scheduled to commence within 15 days from the date of award of the LOI and will be completed as per the project schedule finalized by the project management team.
RMC Switchgears stated that the new LOI significantly strengthens its order book and is expected to contribute positively to the company’s revenue and growth prospects in the coming quarters. The company also indicated that it will keep the stock exchanges informed of any further material developments related to the project, in line with regulatory requirements.