AZAD Engineering has signed a New long term contract & price agreement (LTCPA) with Mitsubishi Heavy Industries, Japan (MHI), valued at $73.47 million (Rs 651 crore) for supply of highly engineered & complex rotating and stationary Airfoils for Advanced Gas & Thermal power turbine engines to meet their global demand in the power generation industry. 

This contract is incremental to last signed contract on November 3, 2024. This Phase 2 of the contract, is a robust step towards cementing its everlasting strategic relationship with Mitsubishi Heavy Industries, Japan (MHI) and with the addition of this agreement, the combined value of contract now stands at $156.36 million (Rs 1,387 crore). The said contract is expected to be completed in 5 years. 

Azad Engineering is one of the key manufacturers of its qualified product lines in the aerospace and defence, energy and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.