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Efkon: VEHICLE TRACKING DEVICES SOLD TO INDIAN OIL CORPORATION LTD.

4. June 2014

 + EFKON India wins 4 orders for vehicle tracking devices
 + Indian Oil Group owns and operates 10 of 22 refineries in India
 + Order intake of € 1,4 Mio for 6631 devices


Mumbai, India 26 May 2014
Continuing the winning streak in the VTS business, EFKON India again was successful in winning 4 tenders for vehicle tracking systems. The Indian Oil Corporation LTD. ordered a total amount of 6631 devices which equals an order intake of € 1,4 Mio.

Indian Oil Corporation LTD. (IOCL) is an Indian state-owned oil and gas corporation. It is the world's 83rd largest corporation according to the Fortune Global 500 list and the largest public corporation in India when ranked by revenue. The Indian Oil Group owns and operates 10 of India's 22 refineries with a combined refining capacity of 65.7 million metric tons per year. The company is mainly controlled by Government of India which owns approx. 79% shares in the company.

Early this year, IOCL invited tenders for supply, installation, testing commissioning, operation and maintenance of vehicle tracking systems. Instead of a single tender for the entire project, tenders were announced state wise. EFKON had submitted bids for 7 of these tenders and was able to win 4 of them (Uttar Pradesh: 1900 devices, Delhi: 2218 devices, Chandigarh: 1130 devices, Noida: 1383 devices).

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