SUMMARY
- SSEGL has bagged a contract worth ₹62.53 crore from Vinfast Auto India Private Limited.
- It includes the execution of MEP projects at Vinfast’s upcoming electric vehicle assembly plant in Thoothukudi, Tamil Nadu.
- SSEGL is anticipated to finalize the project by December 2024.
Sathlokhar Synergys E&C Global Limited (SSEGL), a leading company in the Engineering, Construction, and Maintenance (E&C) sector, has today announced that it has bagged a contract worth ₹62.53 crore from Vinfast Auto India Private Limited. This contract includes the execution of Mechanical, Electrical, and Plumbing (MEP) projects at Vinfast‘s upcoming electric vehicle assembly plant in Thoothukudi, Tamil Nadu.
Following the announcement, the shares of SSEGL were trading at ₹518.95 on the National Stock Exchange (NSE) at 2:55 pm today, with an increase of ₹19.05 or 3.81%.
The project’s scope includes the installation of electrical, mechanical (Heating, Ventilation, and Air Conditioning), plumbing, and firefighting systems. SSEGL is anticipated to finalize the project by December 2024.
Vinfast, a Vietnam-based renowned electric vehicle manufacturer, is set to establish a significant presence in India through this new facility. The contract was secured by Vinfast’s local entity, representing a strategic move into the Indian market.
SSEGL has affirmed that this contract is not a related party transaction, and that there are no personal interests of the company’s promoters in Vinfast Auto India Private Limited.
This development emphasizes the increasing investments in India’s electric vehicle manufacturing industry and highlights SSEGL’s expertise in executing industrial infrastructure projects.
