Ion Exchange Arm Bags Rs 1,730 Cr Oman Deal; Stock Up 4.25%
Shares of Ion Exchange (India) Ltd surged 4.25% to touch a day’s high of Rs 404 on 11th February, after the company said on Tuesday (10th February) that its subsidiary, Ion Exchange and Company LLC, had been awarded a contract by Petroleum Development Oman. The contract is for a design,... The post Ion Exchange Arm Bags Rs 1,730 Cr Oman Deal; Stock Up 4.25% appeared first on Equitypandit.
Shares of Ion Exchange (India) Ltd surged 4.25% to touch a day’s high of Rs 404 on 11th February, after the company said on Tuesday (10th February) that its subsidiary, Ion Exchange and Company LLC, had been awarded a contract by Petroleum Development Oman.
The contract is for a design, build, own, operate, and maintain agreement. It covers potable water and sewage treatment facilities in the South PDO Concession Area.
The Oman contract is valued at OMR 73.46 million (around Rs 1,730 crore) and will run for 20 years. The company’s Oman-based subsidiary will execute it. In addition, the order has been awarded by Petroleum Development Oman, an international entity, and does not involve any interest on the part of the promoter, promoter group, or group companies.
In December last year, Ion Exchange (India) secured domestic contracts worth about Rs 205 crore from Rayzon Energy Private Ltd. The company also secured contracts from INOX Solar Ltd for solar manufacturing projects.
The Rayzon Energy contract, valued at around Rs 95 crore, involves process and utility systems, including ultra-pure water systems, effluent treatment plants (ETP), and zero liquid discharge (ZLD) facilities. These are for its 5.1 GW photovoltaic solar project at Kathwada near Surat, Gujarat.
INOX Solar placed an order worth about Rs 110 crore for the engineering, procurement and construction (EPC) of ultra-pure water generation, wastewater treatment, and zero liquid discharge systems. These will be used for a solar cell manufacturing facility in Odisha.
Both domestic orders are scheduled to be executed within nine and 10 months, respectively, from the date of award. The combined value of these contracts stands at around Rs 205 crore.
At 12:00 PM, shares of Ion Exchange were trading 2.82% higher at Rs 397.70 on the NSE.
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The post Ion Exchange Arm Bags Rs 1,730 Cr Oman Deal; Stock Up 4.25% appeared first on Equitypandit.
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