De Nora India terminates purchase orders of BHEL contract

Market Times - market news
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De Nora India Limited has terminated the Purchase Orders (POs), in view of Bharat Heavy Electricals Limited’s (BHEL) failure to take delivery of certain goods for the Project 2X660 MW ENNORE SEZ STPP for supply of Electrolytic Chlorination Plant, despite lapse of over 2 years and also failure to accept company’s proposal to issue a new PO, after taking into account the costs inflicted / incurred due to the delayed delivery to BHEL, which has affected Company’s ability to fulfil the conditions of POs and as such amounts to a fundamental breach of the POs.

As the project is terminated midway, financial impact is yet to be ascertained.