Libra bags $4 mn contract from Saudi firm
Libra Techcon Limited on Wednesday said it has received a contract worth $4 million (nearly Rs 18.4 crore) from the Saudi Formaldehyde Chemical Company to set up an Acetadehyde plant in the Al-Jubail Industrial Complex in Saudi Arabia.
By PTI |
MUMBAI: Libra Techcon Limited on Wednesday said it has received a contract worth $4 million (nearly Rs 18.4 crore) from the Saudi Formaldehyde Chemical Company to set up an Acetadehyde plant in the Al-Jubail Industrial Complex in Saudi Arabia.
The plant would be developed on turnkey basis and construction work would start in about eight months from now, the company said in a release here.
Contract between the two parties was signed in August.
"We have already received $1.25 million in advance and currently are preparing the engineering drawing for the project," a company official said.
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