Pratibha Ind bags Rs 94 cr water supply project
Pratibha Industries on Monday bagged Rs 94 crore water supply scheme project, to be executed in a joint venture with Unity Infra projects for Ulhasnagar Municipal Corporation.
By PTI |
MUMBAI: Pratibha Industries on Monday bagged Rs 94 crore water supply scheme project, to be executed in a joint venture with Unity Infra projects for Ulhasnagar Municipal Corporation.
In a communique to the Bombay Stock Exchange, Pratibha Industries said the project, will be executed through a 'Special Purpose Vehicle' with equal equity participation by both the joint venture companies. The company bagged the project for a water supply scheme, on Build-Operate-Transfer (BOT) basis.
The project would be completed within 18 months and involves complete design, development, augmentation of existing water supply scheme, operation and maintenance of the scheme during the concession period of 30 years, it added.
Earlier this month, Pratibha Industries had secured a contract from Mumbai Metropolitan Region Development Authority (MMRDA) for widening and construction of Andheri-Kurla Link Road for Rs 24.5 crore.
Revenues for the latest project would be drawn by sale of treated water to Ulhasnagur Municipal Corporation over the concession period, which would begin from the date of signing the concession agreement post.
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The latest project also entails supply of 10,000 metric tonnes of coated steel pipes to be supplied by the newly established 'Saw Pipe Division' of Pratibha industries.The company is engaged in infrastructure business with focus on water management. Shares of the company were trading at Rs 224, down 3.41 per cent on the BSE.
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