IOT Recognized as Best Contractor by CPCL
Chennai, December, 2014: IOT and its subsidiary IOT Anwesha were recognised as the best contractor and sub-contractor respectively by Chennai Petroleum Corporation Ltd (CPCL). The recognition was given forthe outstanding overall performance of both the companies during the execution of the INR 170 Cr. bullet project that was completed for CPCL by IOT on EPC basis.
The award was presented to IOT and IOT Anwesha in Chennai during a ceremony at CPCL.
IOT VITO to construct the tank farms of STAR Refinery
Istanbul, November, 2014: IOT Infrastructure & Energy Services Ltd has partnered with Vito EnerjiveTicaretYat?r?m A.?. to form a Company called IOT Vito Mühendislik?n?aatveTaahhüt A.? (IOT VITO).” with headquarters in Istanbul. IOT VITO will serve the oil & gas industry in Turkey as well as neighboring countries with focus on refinery projects such as storage, process units etc.
IOT Vito has recently signed a turnkey contract for the construction of more than 50 tanks (spherical and cylindrical) with a total capacity of 1.2 million m3 with the main contractor TecnicasReunidas – Saipem – GS E&C – Itochu for the Star Refinery Tank Farm Project in Alia?a, Turkey owned by Socar. will be supplied as EPC.
IOT Successfully Executes a AAA Bond Issue for IOT Utkal
Mumbai,April 2014: In a first of its kind issuance, IOT, through its lead arrangers IDFC Ltd and SBI Capital Markets Ltd, successfully placed INR 30 Billion, 14.5 year, AAA (SO) rated, listed, Structured Bonds for its subsidiary IOT Utkal Energy Services Limited.
The 14.5 year, rated AAA (SO) from CRISIL & India Rating (Fitch), bond offering is split into four series comprising of 102 Separately Transferable Redeemable Principle Parts or STRPPs.
All 4 series were individually over-subscribed and is one of the most widely distributed structured bond issue attracting almost all investor segments (Banks, FI, MF, General insurance, Life insurance, Provident Fund and Pension Fund).