GE Power India Wins 5.50 Billion Rupee Contract in Saudi Arabia

MUMBAI — GE Power India Limited announced on August 12, 2026, that it has received a major Notice of Award (NOA) for the Shoaiba Fuel Conversion Project in Saudi Arabia with a cumulative order value of approximately 5.50 billion Indian rupees (550 Crores). The international contract, awarded by Saudi Arabia-based engineering firm Dar Al Balad for Contracting and Operations Company Ltd., encompasses boiler modifications designed to facilitate fuel conversion at the facility.

The project expands GE Power India's overseas engineering presence and supports infrastructure modernization efforts across energy generation sites in the Middle East.

Order Structure and Regulatory Execution Details

According to official regulatory submissions, the transaction comprises two separate Notices of Award covering specialized supply and technical field advisory services.

• Awarding Entity: Dar Al Balad for Contracting and Operations Company Ltd., Saudi Arabia.

• Contract Structure: Two distinct Notices of Award (NOAs) covering equipment supply and technical advisory services.

• Cumulative Order Value: Approximately INR 5.50 Billion (~INR 550 Crores).

• Execution Timeline: Estimated project duration of 2.5 years.

• Scope of Work: Boiler modifications and specialized technical advisory services for fuel conversion execution.

The notification was formally communicated to the listing departments of BSE Limited (Scrip Code: 532309) and the National Stock Exchange of India Limited (Symbol: GVPIL) pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Technical Scope and Regional Decarbonization Context

The Shoaiba Fuel Conversion Project focuses on modifying utility boilers to support alternative fuel capabilities, optimizing efficiency while lowering emission intensities. GE Power India Limited will provide technical field advisory services alongside the physical supply of specialized boiler components across the 2.5-year implementation phase.

In terms of regulatory disclosures under SEBI guidelines, the company confirmed that neither the promoter nor promoter group entities hold any financial interest in the awarding organization. Additionally, the contract does not fall under related-party transaction parameters, ensuring standard commercial arm's-length terms.

The contract win highlights demand for specialized boiler retrofitting, industrial engineering expertise, and thermal plant upgrades across Middle Eastern markets as facilities transition toward lower-carbon energy profiles.

Impact on Shareholders and Market Participants

For market participants and public equity investors, the multi-year international order enhances GE Power India Limited's revenue visibility through its project duration.

• Revenue Visibility: Securing INR 5.50 Billion in cumulative order value provides long-term cash flow predictability across financial years.

• Export Expansion: Executing international turnkey retrofits broadens the firm's global operational portfolio outside domestic Indian contracts.

• Operational Execution: A 2.5-year delivery schedule allows structured allocation of engineering talent, supply chain resources, and field advisory personnel.

Official Sources Section

According to official regulatory filings submitted to stock exchanges, the management of GE Power India Limited disclosed the receipt of the Notice of Award on August 12, 2026, pursuant to SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026. The details were published on the official web portal of GE Power India Limited.

Quote Section

According to official disclosures filed by company executives, "GE Power India Limited has received Notice of Award (NOA) for Shoaiba Fuel Conversion Project, Saudi Arabia... with scope of work comprising supply along with technical field advisory services related to boiler modifications for fuel conversion with a cumulative value of approximately INR 550 Crores".

Why It Matters

Securing cross-border industrial engineering contracts reinforces GE Power India Limited's position in global utility retrofitting. Capitalizing on international plant modernization projects supports steady order book expansion while assisting power producers in adapting existing infrastructure to meet evolving fuel and environmental standards.

Key Facts at a Glance

• Contract Title: Shoaiba Fuel Conversion Project, Saudi Arabia.

• Cumulative Order Value: INR 5.50 Billion (~INR 550 Crores).

• Awarding Client: Dar Al Balad for Contracting and Operations Company Ltd..

• Execution Period: Approximately 2.5 years.

• Regulatory Compliance: Disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015.

Frequently Asked Questions (FAQ)

What is the value of the Saudi Arabia order received by GE Power India?

The cumulative value of the order for the Shoaiba Fuel Conversion Project is approximately INR 5.50 Billion (INR 550 Crores).

Who awarded the contract to GE Power India Limited?

The order was awarded by Dar Al Balad for Contracting and Operations Company Ltd., an international entity based in Saudi Arabia.

What is the primary scope of work under this contract?

The contract includes equipment supply and technical field advisory services for boiler modifications needed for fuel conversion.

How long will it take GE Power India to execute the project?

The estimated execution duration for the project is approximately 2.5 years.

Source: BSE Limited, National Stock Exchange of India Limited, and GE Power India Limited Official Investor Portal.