Azad Engineering Limited has signed a new long-term contract and price agreement with Mitsubishi Heavy Industries (MHI), Japan, worth $73.47 million (Rs 651 crore). The precision engineering company from Hyderabad has announced this new development through its stock exchanges filing.
The scope of the contract includes the supply of highly engineered rotating and stationary airfoils of advanced gas and thermal power turbine engines which are MHI’s global requirements in the power generation sector. These are critical components for high-performance turbine engines installed in energy infrastructure all over the world.
This latest transaction extends the relationship between the two signing companies back to the previous contract dated November 3, 2024. With this new agreement, the value of the combined orders is now $156.36 million (Rs 1,387 crore) and thus, the long-term strategic partnership of Azad Engineering with MHI is much deepened.
The newly-signed contract is an international long-term agreement with a five-year delivery schedule as is customary in such cases, thus reaffirming the company’s position as a reliable supplier of clean energy projects globally. Azad Engineering made it clear that the agreement is not connected with related party transactions, and that the company does not hold any shares in MHI.
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The collaboration with MHI will become a major source of support for Azad Engineering in its efforts to further position the company as a prime source of the highest standards of aerospace, energy, and defense industries’ supply, which is in line with its vision to increase its presence internationally and maintain its competitiveness in the global market.
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