Jindal Drilling & Industries

Jindal Drilling & Industries Ltd has informed that recently, the Company has been Awarded another contract worth INR 660 Crores for Charter Hire of newly Built Jackup Rig (Discovery - I) by ONGC Ltd. The Contract is at Operating Day rate of USD 159,660 per day for 3 year period on Firm basis. The Said Rig is under construction at Keppel Fels Shipyard at Singapore and is expected to be delivered in September 2008 & will be deployed for Operation under this Contract immediately thereafter.

With this the total Order book stands at INR 2500 Crores and the Financial Performance of the Company is expected to improve substantially in the coming years.