Power Mech Saudi Subsidiary Wins $52M Rabigh Contract

Core Announcement – Order Details

Awarding Entity: Joint Venture of the Branch of ELSEWEDY ELECTRIC POWER SYSTEMS PROJECTS and Branch of SINOHYDRO CORPORATION LIMITED

Domestic/International Order: International (Kingdom of Saudi Arabia)

Nature of Order/Contract:

Erection contract for Installation of Three (3) Heat Recovery Steam Generators, One (1) Steam Turbine for Block 10 and the Balance of Plant Combined Cycle Piping for Block 20 and Common for the project Rabigh 2 IPP Expansion Project. Includes Optional Scope: Installation of Balance of Plant Combined Cycle Piping for Block 10.

Order Value:

Main work: USD 40,982,353 equivalent to ~INR 386.87 Crores (excluding taxes)

Optional work: USD 11,136,756 equivalent to ~INR 105.13 Crores (excluding taxes)

Aggregate value: USD 52,119,109 equivalent to ~INR 492 Crores* (excluding taxes)

Materiality Context: Not Specified

Execution Timeline:

The Contract Period shall be of 20 Months effective from January 1, 2027

Revenue Recognition / Billing Structure: Not Specified

Key Terms & Payment Milestones: Not Specified

Whether Related Party Transaction: No

Promoter Group Involvement: No

Financial Implication: Not Specified