Earlier, the company had bagged an order worth Rs 366 crore from Tata Steel. This order was related to the transport of raw materials and mining products from its Sukinda mines situated in Odisha.
Logistics company North Eastern Carrying Corporation Limited (NECC) has informed exchanges that it has won an order from Tata Steel. According to the information shared, the order is related to the transportation of steel products.
The company said that the contract is for five years and will involve the transportation of steel products from the Tata Steel’s Sahibabad factory to other destinations.
NECC said that it will transport the steel products of the company through electric heavy vehicles. It said this is the first massive EV logistics contract.
Following this development, the shares of NECC gained over 15 per cent.
The counter opened in green at Rs 23.99 on the BSE against the previous close of Rs 20.76. This is a gain of 15.58 per cent.
Earlier, the company had bagged an order worth Rs 366 crore from Tata Steel. This order was related to the transport of raw materials and mining products from its Sukinda mines situated in Odisha.
This work order was valid from April 1, 2018 to March 31. 2021. So, this is the second order bagged by the company from the steel manufacturer.
Before this, the logistics company had secured an order worth Rs 52.48 crore from state-owned GAIL (India) Limited for the transportation of polymer.
The contract is to be executed over a period of three years, NECC said in a regulatory filing.
New Delhi-based NECC, a 48-year-old company, is among the leading freight forwarding companies in India, providing services in neighboring Bhutan and Nepal as well.
Under the Ministry of Petroleum and Natural Gas, GAIL (India) Limited is India’s leading natural gas company.
