Engineers India moves up on signing MoU with Dangote Group
Engineers India is currently trading at Rs. 199.45, up by 0.30 points or 0.15% from its previous closing of Rs. 199.15 on the BSE.
The scrip opened at Rs. 199.95 and has touched a high and low of Rs. 202.75 and Rs. 199.15 respectively. So far 38907 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 255.25 on 11-Jul-2025 and a 52 week low of Rs. 142.15 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 202.75 and Rs. 193.60 respectively. The current market cap of the company is Rs. 11246.47 crore.
The promoters holding in the company stood at 51.32%, while Institutions and Non-Institutions held 20.79% and 27.89% respectively.
Engineers India (EIL) has signed a memorandum of understanding (MoU) with Dangote Group to serve as Project Management Consultant (PMC) and engineering, procurement, and construction management (EPCM) consultant for the second train of Dangote Refinery, marking a major expansion of Africa's biggest refining complex.
The agreement builds on EIL's role in delivering the first 6,50,000 barrels per day (bpd) train of the integrated refinery and petrochemical complex at the Lekki Free Zone, commissioned in 2024. The facility is recognised as one of the world's largest single-train refineries and a transformative project for Africa's energy landscape. Dangote plans to ramp up the refinery's capacity to 1.4 million bpd by 2028. EIL will be the PMC and EPCM consultant for the expansion.
Once completed, this expansion will position Dangote as the world's largest petroleum refinery, strengthening fuel production within Africa, reducing reliance on imports, and supporting regional energy security. The expansion will also include a new PDH unit, boosting polypropylene output from 8,30,000 tonnes per annum to 2.4 million tonnes. The upgrade is expected to significantly strengthen regional supplies of fuels and petrochemicals and reduce Africa's dependence on imports. Once completed, the expanded complex is projected to become the world's largest refinery at a single location.
Engineers India is engaged in the business of providing engineering and related technical services for petroleum refineries and other industrial projects.
