Page 32 - TCE Annual Report 2024-2025
P. 32
Overview Leadership Messages Governance Strategic Insights Business Review People & Community
Risk Key Risk Areas Areas Impacted Mitigation Strategies
Category
• The company may be exposed • Reputational • Internal process checks are
to safety-related issues if quality damage. conducted rigorously by an
standards are not followed or independent team to ensure that
if processes are not properly • Risk of injuries or loss all quality standards and safety
adhered to during the design and of life. parameters are met.
review of safety mechanisms in • Threats to employee
the construction phase, as per safety. • Relevant employees receive proper
contractual terms. training on safety processes and
protocols to maintain safety at every
• Employees deployed at stage.
challenging or high-risk locations
may face safety concerns due to • A clear demobilisation strategy is
geography-specific or geopolitical in place to safeguard employees
when situations require
Safety Risk unsafe environments. withdrawal.
conditions such as conflicts or
• Before entering a new geography,
detailed country profiles are
prepared, including assessments
of economic, political, security,
legal factors and diplomatic
relations with India. These profiles
also include an evaluation
of risks and opportunities to
ensure that projects undertaken
in international locations are
both safe and aligned with the
company’s strategic direction.
• TCE undertakes certain contracts • Delays and • Conducting thorough due diligence
as a member of joint ventures, compromises in the of JV partners during the pre-
time and quality of
partnerships, and similar • Loss of revenue and bid and bid stages, especially to
assess financial capability, relevant
collaborative arrangements. There
project delivery.
Joint Ventures (JVs) / Partnerships • The company may have limited • Increase in legal • Establishing strong back-to-back
experience, and track record.
is a risk that partners may be
unable to meet their contractual
profitability.
obligations to TCE or to clients.
contractual arrangements to ensure
that liabilities and penalties are
disputes, leading
shared proportionately with the JV
control over the actions of
to reputational
JV partners, including non-
partner.
damage.
performance, defaults, bankruptcy,
• Implementing a JV partnership
or breaches of legal compliance.
framework and training staff to
effectively manage JV-related risks
throughout the life cycle of the
project.
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