Welspun Arm Signs Concession Pact for Restructuring Dewas Industrial Water Supply Project | CORPORATE ETHOS

Welspun Arm Signs Concession Pact for Restructuring Dewas Industrial Water Supply Project

By: | January 11, 2018
welspun-corp

Jan 11: Welspun Enterprises Ltd (WEL), formerly Welspun Projects Ltd, part of the $2.3 billion Welspun Group, on Wednesday said that the Madhya Pradesh State Industrial Development Corporation Ltd (MPSIDC) and Dewas Waterprojects Works Pvt Ltd (a wholly owned subsidiary of the company) have entered into a Concession Agreement on January 9, 2018 for restructuring the Dewas Industrial Water Supply Project under the Madhya Pradesh Infrastructure Development (Swiss Challenge) guidelines 2014.

According to the company, the restructured project involves the development of a water supply project to supply treated water of up to 23 million litres per day (MLD) to industrial customers in Dewas during the concession period.

“Once the restructured project is operational, the earlier Dewas Industrial Water Supply Project from Nemawar of the company will be handed over to PWD, MP government, at no cost,” the company said.

“The estimated project cost of the restructured project as per the bid documents of the project is Rs 118 crore,” it added.

The project construction schedule is 12 months and the concession period is up to June 15, 2037, after which it will be transferred to MPSIDC.

The announcement came in after market trading hours Wednesday. Shares of the company were trading at Rs 192.80, up 1.88% from the previous closing of Rs 189.25, on BSE at 2.45 pm today.