ITD Cementation wins Rs 580cr marine EPC contract in Abu Dhabi for Ruwais LNG jetty

ITD Cementation India Limited (NSE: ITDCEM, BSE: 509496), a leading Indian civil infrastructure and marine engineering firm, has announced the receipt of a major international engineering, procurement, and construction (EPC) order valued at US$67.4 million, or approximately ₹580 crore. The contract pertains to jetty construction work for the Ruwais LNG expansion project in Abu Dhabi and marks a significant step in ITD Cementation’s international EPC growth strategy.

The contract award was disclosed through an official regulatory filing to the National Stock Exchange of India and BSE Limited, along with a media statement confirming the value and scope of the win. This EPC marine contract is considered part of ITD Cementation’s core operational domain, aligning with its expertise in maritime infrastructure and its growing international project portfolio.

How does the Ruwais LNG contract deepen ITD Cementation’s presence in the Middle East marine EPC segment?

The newly awarded marine contract involves the construction of jetty infrastructure at the Ruwais LNG terminal, a key part of the United Arab Emirates’ strategic plan to expand liquefied natural gas capacity. The Ruwais LNG facility is undergoing a significant upgrade to meet growing global LNG demand, driven by energy transition policies and European diversification away from Russian gas.

This project enhances ITD Cementation India Limited’s position in the high-margin international marine EPC market, especially in the Gulf region. Industry observers view the win as a strategic beachhead into a market where port, jetty, and terminal construction contracts are set to grow in the coming decade. Abu Dhabi’s Ruwais industrial hub, anchored by Abu Dhabi National Oil Company (ADNOC), is at the forefront of this development.

ITD Cementation has previously built a track record in marine civil infrastructure with domestic projects across Kandla, Vizhinjam, and Ennore. With this order, the Indian civil infrastructure firm joins a select group of Indian players executing design-and-build jetty packages overseas—often a gateway to repeat business in the Gulf infrastructure boom.

What are the latest stock market indicators and investor reactions to the international contract win?

On June 27, 2025, ITD Cementation India Limited’s stock price closed at ₹886.30, up 0.94% from its previous close of ₹878.05. Intraday trading saw the stock hitting a fresh 52-week high of ₹900.80 before settling at ₹889.40. The announcement helped sustain the stock’s positive momentum, supported by moderate investor buying interest.

Trading data from NSE shows a volume of 6.52 lakh shares with a total value of ₹57.82 crore, while the VWAP for the session stood at ₹887.00. The delivery percentage of 32.46% indicates a balanced mix of retail and institutional activity. The stock now trades with an adjusted P/E ratio of 40.84, reflecting long-term earnings confidence, and carries a total market capitalization of ₹15,225 crore.

With a free float market cap of ₹8,086 crore and inclusion in the Nifty Total Market index, ITD Cementation has become increasingly visible to passive fund managers and mid-cap institutional investors. Analysts expect further re-rating if order inflow momentum continues through FY26.

What does the contract reveal about ITD Cementation’s operational capabilities and sectoral focus?

ITD Cementation India Limited is recognized for its expertise across a wide range of heavy civil infrastructure verticals, including marine works, metro systems, tunnels, airports, dams, and water treatment plants. The firm has operated in India for over 90 years and is now sharpening its global ambitions by focusing on technically complex EPC projects where its execution track record can differentiate it from competitors.

The ₹580 crore Ruwais jetty contract underscores the engineering-driven nature of the company’s portfolio. It is not merely a subcontracting role; rather, it reflects ITD Cementation’s ability to meet marine safety codes, seismic resilience standards, and LNG-specific civil specifications.

Such contracts typically span 18–30 months and require precision in geotechnical execution, reclamation, and piling. This places ITD Cementation in a favorable category among Indian EPC firms seeking to expand overseas, particularly in marine or energy-adjacent infrastructure.

What is the broader strategic context behind ITD Cementation’s overseas EPC push?

Indian civil infrastructure companies have historically been domestically focused due to large public works opportunities. However, rising competition, margin pressures, and capital discipline have pushed select players toward overseas bids—especially in marine and industrial EPC.

Gulf economies, flush with energy export revenues, are increasingly awarding design-and-build contracts to global players who can offer lower cost and rapid mobilization. Indian firms like ITD Cementation, with demonstrated marine capabilities and an asset-light approach, are well-suited to capitalize on this shift.

The Abu Dhabi win is seen as strategically important given the pedigree of the project owner and the potential for adjacent work packages in the same industrial zone. Analysts note that the Middle East region—particularly UAE, Saudi Arabia, and Qatar—is expected to offer $40–$50 billion worth of marine and port EPC tenders through 2028.

How are institutional investors and analysts interpreting the Ruwais LNG contract’s long-term value?

Institutional sentiment has remained generally favorable toward ITD Cementation’s global project selection strategy. While the US$67.4 million order is not transformative on its own, institutional investors see it as a margin-accretive addition that diversifies geographic risk. The consistent pattern of marine project wins suggests a maturing pipeline and growing prequalification footprint.

The civil infrastructure firm’s ability to sustain strong margins without excessive working capital stress is being closely monitored. In recent earnings calls, management had indicated an appetite for high-quality international projects in core focus areas such as marine works, tunnels, and metro extensions.

Given that marine EPC projects typically offer better-than-average EBITDA margins due to engineering complexity and lower subcontracting, analysts anticipate this project could lift margins modestly if execution risks are mitigated.

What is the outlook for ITD Cementation’s order book and potential for more international wins?

ITD Cementation India Limited has been growing its order book steadily across both public and private sector projects. As of its last disclosed update, its order backlog exceeded ₹15,000 crore, spanning segments such as metro rail construction, hydroelectric tunneling, and industrial structures.

The Ruwais marine order could mark the beginning of a broader trend for the company—bidding and winning internationally where core expertise in geotechnical engineering and marine civil works are in demand. Investors will be watching for similar contract disclosures in FY26, particularly in the Gulf, Southeast Asia, and Africa, where infrastructure programs are ramping up.

Moreover, participation in energy-transition infrastructure such as LNG terminals and clean energy ports is emerging as a long-term theme. With a strong domestic base and expanding global footprint, ITD Cementation is positioning itself as a marine specialist among Indian EPC firms.

Is ITD Cementation entering a sustained phase of international marine EPC expansion?

The ₹580 crore Ruwais LNG jetty project represents more than just an incremental order for ITD Cementation India Limited—it signals a deliberate strategic extension into high-value, globally significant EPC contracts. With capabilities aligned to complex marine civil works and a history of domestic project delivery, the infrastructure developer appears poised to capture further share in Gulf-region EPC tenders.

As infrastructure capital flows accelerate in energy-exporting economies, especially in marine and LNG-linked assets, ITD Cementation’s disciplined expansion and niche expertise could catalyze long-term valuation re-rating. If execution proceeds on schedule and additional wins follow, the international portfolio could become a key driver of margin expansion and order book quality heading into FY26–FY27.