AZAD Engineering Limited has signed a new long-term contract and price agreement (LTCPA) with Mitsubishi Heavy Industries Limited, Japan (MHI) valued at USD 73.47 million (INR 6.51 billion). The agreement covers the supply of rotating and stationary airfoils for advanced gas and thermal power turbine engines to meet MHI’s global demand in the power generation sector.
The contract is incremental to a previous agreement signed on 3 November 2024. With the addition of this Phase 2 agreement, the combined value of contracts between AZAD Engineering and MHI now stands at USD 156.36 million (INR 13.87 billion). The contract is scheduled to be executed over five years.
The agreement does not involve any shareholding or related-party transactions with the contracting entity. AZAD Engineering has no equity interest in MHI, and MHI is not related to the company’s promoters or group entities.
AZAD Engineering Limited is engaged in the manufacture of complex and highly engineered components for the power generation sector, including gas and thermal turbine engines. The company supplies products to international clients and focuses on precision engineering solutions.