GAIL (India) Limited and a leading industrial company have inked a seven-year contract to guarantee the supply of RLNG gas for the company’s future pellet mill. In addition to improving production efficiency and supporting sustainable energy practices, this action guarantees steady operations.
Godawari Power and Ispat’s stock shot up 7% in morning trading and hit a record high of Rs 253.40 on December 12 following the company’s signing of a seven-year contract with GAIL to supply re-gassified liquefied natural gas (RLNG). With today’s jump, the stock also managed to post gains of over 29 percent throughout the course of the day, extending its winning streak to the ninth straight session.
Godawari Power has Partnership with GAIL
GPIL will receive a steady supply of RLNG for the ensuing seven years according to the deal that was signed and exchanged in Raipur. The operational effectiveness and energy sustainability of GPIL’s pellet production are anticipated to be enhanced by this strategic alliance with GAIL. According to the company’s regulatory filing, the agreement is essential to the future facility’s seamless operation and is consistent with GPIL’s regular business operations.
About the Company – Godawari Power & Ispat
Ispat Godawari Ltd. (IGL) was renamed Godawari Power & Ispat (GPIL) in 1999 with the goal of creating an integrated steel factory with captive power generation facilities. Being a major force in the steel sector, GPIL is well-known in the long product segment and specializes in producing mild steel wires.
The business’s activities cover the whole manufacturing value chain, from raw materials to steel products that are finished. Sponge iron, billets, ferro alloys, steel wires, fly ash bricks, pellets, wire rods (via its subsidiary), and oxygen gas are all products of GPIL. The business has further cemented its position as a fully integrated steel maker by obtaining the rights to mine coal and iron ore for internal use.
