DEE Development Engineers’ Thailand Subsidiary Secures a €1.9 Million LOI for HRSG Piping Supply for Taiwan Project

Mumbai 05 March 2026: DEE Development Engineers Limited (BSE: 544198 | NSE: DEEDEV), a leading engineering and process piping solutions provider, has announced that its material subsidiary DEE Piping Systems (Thailand) Co., Ltd. has received a Letter of Intent (LOI) from an international customer for the prefabrication and supply of piping and supports for a Taiwan-based project.

The LOI is valued at approximately €1.9 million (around ?20 crore). While the name of the customer cannot be disclosed due to commercial considerations, the project relates to the supply and prefabrication of piping materials associated with Heat Recovery Steam Generator (HRSG) systems, a critical component in modern combined-cycle power plants.

Under the terms of the engagement, the Thailand subsidiary will undertake the prefabrication and supply of HRSG piping and related supports for the Taiwan project, with execution scheduled to be completed by May 2027.

This mandate further strengthens DEE’s export execution pipeline through its Thailand manufacturing platform, which plays a key role in servicing international customers across the power and energy infrastructure sectors.

Commenting on the development, Mr. K. L. Bansal, Chairman and Managing Director, DEE Development Engineers Limited, said: “This LOI further reinforces the growing role of our Thailand subsidiary in servicing international customers and executing technically demanding piping projects. The mandate reflects continued confidence in DEE’s engineering capabilities, manufacturing standards, and delivery reliability for complex energy infrastructure programs.

As global investments in high-efficiency power generation and energy infrastructure continue to expand, we remain focused on strengthening our international presence and building long-term partnerships with global OEMs and project developers.”

This international LOI follows a series of significant wins during the current quarter, including the previously announced Letter of Intent exceeding USD 40 million for international HRSG piping supply across 16 units from a leading U.S.-headquartered OEM, as well as domestic and Thailand subsidiary orders aggregating to over ?170 crore across fabrication, HRSG piping, and fittings. Together, these mandates reflect sustained traction across both domestic and export markets and reinforce DEE Development Engineers’ positioning as a trusted manufacturing partner for large-scale energy infrastructure projects.