Pratibha Industries secures a contact from Ulhasnagar Municipal Corporation for a Water Supply Scheme on BOT basis

Pratibha Industries Ltd has announced that the Company has secured a contract (in joint venture with Unity Infraprojects Ltd) from Ulhasnagar Municipal Corporation for a Water Supply Scheme on BOT basis the project shall be executed through a 'Special Purpose Vehicle' with equal equity participation by both the Companies.

The water supply project involves "complete design, development of independent water source, augmentation of existing water supply scheme service reservoirs, operation and maintenance of the scheme during the concession period of 30 years". The project shall be developed at a cost of Rs 940 million and shall draw revenues by sale of treated water to Ulhasnagur Municipal Corporation over the concession period. The project is to be executed in 18 months from the date of signing the concession agreement post which the concession period shall begin.

The project also entails supply of 10,000 metric tons of coated steel pipes which shall be supplied by the newly established 'SAW Pipe Division' of the Company.

Source : Equity Bulls

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