Ion Exchange spurts 7 per cent on receiving huge orders

The company informed the exchange on Thursday during the late market hours that it has received a letter of award & contract from State Water Supply & Sanitation Mission, Namami Gange and Rural Water Supply Department under Jal Jeevan Mission.  

The order received is for two EPCs i.e. engineering, procurement & construction projects, which will include survey, design, preparation of detailed project report (DPR), supply along with construction & commissioning of the water treatment plant for 10 years of rural drinking water supply to more than 1,000 villages. The villages are located in two districts of Uttar Pradesh i.e. Varanasi and Aligarh.  

The value of these two projects is expected to be approximately Rs 1,000 crore. However, the specific value will be determined only after the approval of DPR. The project is to be constructed & commissioned within 21 months after the date of signing of the contract.  

The share price of Ion Exchange Ltd closed 7.01 per cent higher at Rs 2,178.90 on Thursday. 

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