VMPL
Chennai (Tamil Nadu) [India], March 25: Krishca Strapping Solutions Ltd, a one of the leading providers of industrial strapping and packaging solutions, has secured two major contracts from ESL Steel Limited (Vedanta Group) for strapping, wrapping, and compactor services at its Mappedu facility.
The combined contract value of Rs65.75 Crore (excluding GST) includes two separate agreements: one valued at Rs47.36 Crore (excluding GST) spanning five years from April 1, 2025, to March 31, 2030, and another valued at Rs18.38 Crore (excluding GST) valid until October 31, 2027. The scope of work includes coil strapping of bar bundles and WRM coils, wrapping of WRM coils, and compactor handover services, awarded through a competitive reverse auction process.
Commenting on the recent order, Lenin Krishnamoorthy Balamanikandan, Chairman & Managing Director, said, "We are pleased to further strengthen our long-standing partnership with ESL Steel Limited (Vedanta Group) through these significant contracts. These agreements reflect our commitment to delivering high-quality strapping and wrapping solutions, ensuring operational efficiency and customer satisfaction. With our expertise and dedication to innovation, we look forward to executing these contracts successfully."
Under the contractual terms, Krishca Strapping Solutions Ltd will adhere to structured payment terms, including a 45-day credit period for the five-year contract and a 60-day credit period for the three-year contract. The agreement also includes Bank Guarantee (BG) terms at 20% of the annual contract value and 20% of monthly billing value linked to Key Performance Indicators (KPI).
These contracts further solidify Krishca Strapping Solutions Ltd's position as a key player in industrial packaging solutions, reinforcing its growth trajectory and industry leadership. The company remains committed to enhancing service capabilities, ensuring efficiency, and delivering superior packaging solutions across India.
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