Paradeep Parivahan Limted signs 8 years Agreement with UltraTech Cement Limited. Details Attached.
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Paradeep Parivahan has signed an 8-year agreement with UltraTech Cement to deploy one of the largest trans-state fleets of electric vehicles for bulk transportation. The EVs will run between UltraTech's Rajasthan and Uttar Pradesh facilities, replacing diesel-powered heavy trucks on a high-volume industrial route. The contract is between domestic entities, and Paradeep has confirmed there is no related-party interest. The order value has not been disclosed due to confidentiality obligations.
This is a long-tenure contract with a major cement major, which could provide revenue visibility for 8 years and shift the company's fleet profile toward electric vehicles. However, the absence of disclosed order size makes it hard to gauge the immediate financial impact for shareholders.