Azad Engineering Limited has announced that it has signed a new Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries Limited (MHI), Japan, worth USD 73.47 million (₹651 crore).
The agreement covers the supply of highly engineered and complex rotating and stationary airfoils for advanced gas and thermal power turbine engines. These components will support MHI’s global power generation demand.
This latest contract builds upon the earlier agreement signed in November 2024. With this Phase 2 addition, the combined contract value now stands at USD 156.36 million (₹1,387 crore).
Key Highlights of the Deal
- Parties involved: Azad Engineering Limited & Mitsubishi Heavy Industries (Japan).
- Contract value: USD 73.47 million (₹651 crore).
- Industry focus: Advanced gas & thermal power turbine engines.
- Duration: 5 years.
- Type: International Long Term Contract.
Azad Engineering stated that the deal marks a significant step in strengthening its long-term strategic partnership with MHI. The agreement further establishes the company’s reputation as a global supplier of precision-engineered components for the power sector.
With this development, Azad Engineering has reinforced its position as a key contributor to the international power generation supply chain, enhancing India’s footprint in high-end engineering exports.
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