News ArticleTime Technoplast’s Saudi Subsidiary Wins Rs. 35 Crore Contract to Supply Industrial Packaging to CHEMANOL
Annual exclusive contract awarded by Saudi-listed Methanol Chemicals Company strengthens Middle East operations and international business
Time Technoplast's wholly owned subsidiary in Saudi Arabia has received an exclusive Rs. 35 Crore (USD 3.68 Million) annual order from Methanol Chemicals Company (CHEMANOL) to supply industrial packaging products including drums, jerry cans, and IBCs, enhancing its Middle East business presence and revenue visibility.
Time Technoplast Ltd.
Order Wins
Time Technoplast Ltd.’s wholly owned subsidiary in Saudi Arabia has secured an exclusive one-year contract worth approximately Rs. 35 Crores (USD 3.68 Million) from Methanol Chemicals Company (CHEMANOL) for supplying industrial packaging products such as drums, jerry cans, and IBCs.
The awarded contract comes from CHEMANOL, a prominent chemical manufacturer listed on the Saudi Stock Exchange (Tadawul), specializing in methanol and its derivatives for various industrial uses.
This contract is expected to bolster Time Technoplast’s industrial packaging business footprint in the Middle East region, reflecting a strengthened relationship with key chemical industry customers.
The agreement runs for one year and covers the supply of industrial packaging products, including drums, jerry cans, and Intermediate Bulk Containers (IBCs).
Time Technoplast confirms that the order is international, unrelated to promoters or promoter groups, and not a related party transaction.
The contract enhances revenue visibility for the company’s Middle East operations and reinforces its strategic focus on international business expansion.
Highlights
- Exclusive one-year contract awarded by Saudi Arabia's Methanol Chemicals Company (CHEMANOL).
- Order value of approximately Rs. 35 Crores (USD 3.68 Million).
- Supply of industrial packaging products: drums, jerry cans, and IBCs.
- Contract awarded to Time Technoplast’s wholly owned subsidiary located in the Kingdom of Saudi Arabia.
- CHEMANOL is listed on Saudi Stock Exchange (Tadawul) and specializes in methanol and its derivatives.
- The contract is not a related party transaction and involves no promoter interests.
Key Data Snapshot
What happened
- Time Technoplast’s wholly owned subsidiary in Saudi Arabia secured a major order valued at Rs. 35 Crores (USD 3.68 Million).
- The contract is an exclusive annual agreement with Methanol Chemicals Company (CHEMANOL), a prominent Saudi chemical manufacturer.
- The order covers supply of industrial packaging containers including drums, jerry cans, and IBCs.
Key details
- CHEMANOL is listed on the Saudi Stock Exchange (Tadawul) and specializes in methanol production and derivatives.
- The contract strengthens Time Technoplast’s industrial packaging presence in the Middle East.
- Contract duration is one year with exclusive supply rights for the specified products.
- The order is international and not related to promoter interests or group companies.
- This transaction is conducted at arm’s length and is not considered a related party transaction.
Highlights
- Exclusive one-year contract awarded by Saudi Arabia's Methanol Chemicals Company (CHEMANOL).
- Order value of approximately Rs. 35 Crores (USD 3.68 Million).
- Supply of industrial packaging products: drums, jerry cans, and IBCs.
- Contract awarded to Time Technoplast’s wholly owned subsidiary located in the Kingdom of Saudi Arabia.
- CHEMANOL is listed on Saudi Stock Exchange (Tadawul) and specializes in methanol and its derivatives.
- The contract is not a related party transaction and involves no promoter interests.
Disclosures
- SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
- Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
No promoter or promoter group interest in the ordering entity
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