GHV Infra Projects Receives LOI for €630 Million EPC Order for Cameroon Tyres Factory
GHV Infra Projects Limited has secured a Letter of Intent from Cameroon Tyres Factory Project SA for an EPC contract valued at €630 million (approx. INR 7,000 Crores), excluding taxes, on an LSTK basis. The project involves constructing a greenfield tyre manufacturing plant with a capacity of 7.6 million tyres per annum at Bekoko, Douala, Cameroon, with a completion period of 36 months from Notice to Proceed.
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GHV Infra Projects Limited has received a Letter of Intent (LOI) from Cameroon Tyres Factory Project SA for the execution of Engineering, Procurement and Construction (EPC) works for a greenfield tyre manufacturing plant in Cameroon. The contract is valued at €630 million (equivalent to approximately INR 7,000 Crores), excluding taxes, and is to be executed on a Lump Sum Turnkey (LSTK) basis. This development, intimated to BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, marks a significant milestone in the company's international expansion.
Order Details
The following table summarises the key parameters of the contract as disclosed in the regulatory filing:
| Parameter: | Details |
|---|---|
| Awarding Entity: | Cameroon Tyres Factory Project SA |
| Order Value: | €630 million (approx. INR 7,000 Crores), excluding taxes |
| Contract Type: | EPC on LSTK Basis |
| Project Type: | Greenfield Tyre Manufacturing Plant |
| Plant Capacity: | 7.6 million tyres per annum |
| Project Location: | Bekoko, Douala, Littoral Region, Cameroon |
| Completion Period: | 36 months from Notice to Proceed |
| Entity Type: | International |
| Related Party Transaction: | Not Applicable |
Project Scope and Significance
The EPC contract covers the complete construction of a greenfield tyre manufacturing facility with an annual production capacity of 7.6 million tyres, located at Bekoko in the Douala Littoral Region of Cameroon. As an LSTK contract, GHV Infra Projects will be responsible for the full project lifecycle—from engineering design and procurement of materials and equipment to the complete construction and handover of the facility within the stipulated 36-month period.
The €630 million order represents one of the company's largest international contract wins to date. The award of this contract to an Indian infrastructure company for a large-scale industrial manufacturing facility in Cameroon underscores the growing global competitiveness of Indian EPC players in securing high-value overseas projects. The company has confirmed that neither the promoter/promoter group nor any group companies hold any interest in the awarding entity, and the transaction does not constitute a related party transaction.
Key Highlights
- LOI received from Cameroon Tyres Factory Project SA for a greenfield tyre manufacturing plant
- Contract value: €630 million (approx. INR 7,000 Crores), excluding taxes
- Plant capacity: 7.6 million tyres per annum
- Project site: Bekoko, Douala, Littoral Region, Cameroon
- Completion timeline: 36 months from Notice to Proceed
How will GHV Infra Projects finance the working capital and execution requirements for a €630 million LSTK contract, and what impact will this have on its balance sheet?
Could this Cameroon contract serve as a gateway for GHV Infra Projects to secure additional EPC projects across other African nations with growing industrial infrastructure needs?
What are the key execution risks—such as geopolitical instability, supply chain logistics, and currency fluctuation—that GHV Infra Projects may face while delivering this project in Cameroon?
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