Ulhasnagar municipality awards Rs94-crore water supply project on BOT basis
18 Dec 2006
Mumbai: Pratibha Industries Ltd jointly with Unity Infraprojects Ltd has secured a contract from Ulhasnagar Municipal Corporation for a water supply scheme to be carried out on a build-operate-transfer (BOT) basis.
The project, worth Rs94 crore, will be executed through a 'special purpose vehicle with equal equity participation by both the companies, Pratibha said in a filing with the Bombay Stock Exchange (BSE).
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 Rs94 crore and shall draw revenues by sale of treated water to Ulhasnagar Municipal Corporation over the concession period. The project is to be executed in 18 months from the date of signing the concession agreement.
The project entails supply of 10,000 tonnes of coated steel pipes, which shall be supplied by the newly established SAW Pipe division' of the company, Pratibha said in the filing.