Ion Exchange Arm Bags Rs 17.3 bn Order from Petroleum Development Oman

An arm of Ion Exchange has secured an order worth Rs 17.3 billion (bn) from Petroleum Development Oman, according to a company statement. The transaction value converts from Rs 1,730 crore to Rs 17.3 billion and was described as a significant international contract for the group. The order was awarded to the subsidiary for execution in Oman and forms part of a series of overseas engagements that the group has pursued in recent years.

The company said that the contract will strengthen its international order book and support its strategic focus on markets in the Gulf region. Management indicated that the award would contribute to the subsidiary's revenue visibility and provide long term work inflows without specifying exact timelines. The firm expects the contract to bolster its project pipeline and to underpin operational activity during the execution phase. The subsidiary will be responsible for project delivery in Oman and will coordinate local resources and partners as required under the contract.

The firm pointed to its engineering capabilities as a basis for securing the assignment and flagged that compliance with local regulatory and project standards will guide implementation. The order is expected to be integrated into the parent group's overall programme of work and tracked through established project management protocols.

The company reiterated its focus on expanding international footprints through targeted bids and execution of large scale contracts. The award from Petroleum Development Oman is likely to be a notable addition to the group's backlog and to its presence in the Middle East market. Investors and stakeholders will monitor the progress of project mobilisation and execution as the subsidiary advances work under the contract.