“..we wish to inform you that GP Petroleums Limited (the Company or the seller) has entered into supply agreement for Bulk Bitumen -VG30, dated November 29, 2024, with Hindustan Petroleum Corporation Limited (a government of India Enterprise) (HPCL or the Buyer) for the supply of Bulk Bitumen – VG30 conforming to IS 73-2013, at various locations as required by HPCL,” GP Petroleums said in a regulatory filing.
Also Read: Surya Roshni secures orders worth ₹214.68 crore for coated pipes
The agreement ensures the delivery of around 50,000 metric tonne of bitumen across various locations as required by HPCL. The contract, which is not with a related party, was finalised on an arm’s length basis. The initial tenure of the agreement is for one year, with the possibility of an extension for another year at HPCL’s discretion.
Bitumen, a critical component for infrastructure projects like road construction, is a key offering in GP Petroleums’ product portfolio. Shares of GP Petroleums Ltd ended at ₹61.40, down by ₹0.33, or 0.53% on the BSE.
Also Read: HPCL Q2 results: Stock ends 8% lower after weaker-than-expected recovery
