Tembo Global Lands Key $12.44M Sri Lanka Airport Project ✈️
Big news from Tembo Global Industries (TEMBO)! The company has just announced a significant win, bagging an Engineering, Procurement, and Construction (EPC) contract that’s set to expand its footprint in the international market. This is a fantastic development for the company and its investors!
What’s the Deal?
Tembo Global Industries will be undertaking the construction of Aviation Turbine Fuel (ATF) Storage Tanks, complete with all the necessary piping connections, electrical, and instrumentation works. The project is located at a key international hub: the Bandaranaike International Airport in Colombo, Sri Lanka. 🇱🇰
The scope of work is comprehensive, covering everything from design and engineering to procurement, construction, and finally, commissioning of these crucial ATF storage systems. Think of it as a complete package deal to get those fuel tanks up and running efficiently.
The Value and Significance
This isn’t just any contract; it’s valued at a substantial USD 12.44 Million (which translates to USD 12,443,345/-). For Tembo Global, this project marks a significant milestone. It’s a clear indicator of their growing capabilities in the international EPC market and is expected to contribute positively to the company’s revenues and overall business growth. 🌱
Securing such a project at an international airport highlights Tembo Global’s expertise and ability to handle complex infrastructure projects beyond domestic borders. It’s a testament to their engineering prowess and a strategic move that could open doors to more global opportunities.
Market Reaction
Investors seem to be taking note of this positive development. At the time of this announcement, Tembo Global’s stock (TEMBO) was trading at ₹599, showing a healthy gain of 2.3%. This positive movement reflects the market’s optimism about the company’s future prospects following this major contract win. 📈
This contract is definitely one to watch as Tembo Global Industries continues to build its presence in the global infrastructure landscape. Keep an eye on this space for more updates!
source: Corporate Announcement
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