Oil and Natural Gas Corporation Ltd (NSE: ONGC): Noida-based technology solutions firm Corporate Infotech Private Limited (CIPL) has been awarded an important project from the government-owned company Oil and Natural Gas Corporation (ONGC).
The information technology system will undergo a major upgrade.
This will be completed using a pay-per-use model and is expected to be completed in 7 years, with the completion date being September 2031.
The cost of this project is around 98 crore rupees.
Now, investors are keeping watch on the ONGC stock on Thursday. The cost for a share in the firm is Rs 247.
What Is The Work Of The Project?
The target of this project is to improve the infrastructure for IT in its Corporate Infocom Data Center (CIDC) in Delhi and on the Disaster Recovery Site in Vadodara, Gujarat (CIDC).
This project was developed to assist the company’s digital transformation.
This will make the company’s operations sustainable and ensure that services such as backup of data, disaster recovery, and application management will continue uninterrupted.
This will improve the operation of the government-owned company and improve security.
What Did The Company’s MD Say?
Corporate Infotech Private Limited’s CEO and Managing Director Vinod Kumar stated that the project demonstrates their capability of managing IT infrastructure.
They offer services based on consumption and, in the past few years, they’ve completed these projects.
The Company Came Into Existence In 2007
Corporate Infotech Private Limited, which was established in 2007 is currently one of the biggest IT hardware solutions companies in India.
The company won a huge 3-year deal with Indian Oil for Rs 114 crore. This will see that each year, inspection of IT infrastructure will be carried out in all departments within Indian Oil.
Quick Fact
| Company name | Corporate Infotech Private Limited |
|---|---|
| Project awarded by | Oil and Natural Gas Corporation (ONGC) |
| Project cost | ₹98 crore |
| Project duration | 7 years |
| Completion date | September 2031 |
| Model | Pay-per-use |
| Project locations | Delhi (CIDC), Vadodara (Disaster Recovery Site) |
| Purpose | Digital transformation |
| Benefits | Improved IT infrastructure, uninterrupted data backup, disaster recovery, enhanced security |
| Founded in | 2007 |
| Major past project | ₹114 crore, 3-year deal with Indian Oil for IT infrastructure inspection |
Oil and Natural Gas Corporation
| Company name | Oil and Natural Gas Corporation |
|---|---|
| Project partner | Corporate Infotech Private Limited |
| Share price (Tuesday) | ₹247 |
| Share movement (Tuesday) | 1.27% increase |
| Market status (Wednesday) | Closed due to Maharashtra elections |
| Project goal | Enhance Corporate Infocom Data Center operations |
| Additional site | Disaster Recovery Site in Vadodara |
| Benefits | Sustainable operations, secure services |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
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