Welspun Enterprises surge up to 9% after securing ₹4,123 crore order from BMC
Upstox
1 min read • Updated: March 1, 2024, 10:10 AM
Summary
Welspun Enterprises, one of the leaders in the water infrastructure sector, has secured a significant order from BMC to design, build and operate a 2000 MLD water treatment plant in Mumbai. The order value stands at ₹4,123 crore
Welspun Enterprises has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to establish the one of the largest water treatment plants, boasting a 2000 MLD capacity, within Mumbai's Bhandup complex.
The contract, valued at ₹4,123 crores, includes ₹1,880 crores earmarked for operations and maintenance (O&M) expenses. The project is slated for completion in 48 months, with Welspun Enterprises assuming responsibility for O&M for the subsequent 15 years.
Utilising cutting-edge technology, the forthcoming plant aims to be at the forefront of water treatment facilities worldwide. Welspun Enterprises has partnered with Veolia, a leading technology company in the water sector, for this endeavour.
The company's total order book now stands at ₹12,650 crores, with ₹9,750 crores attributed to the water sector and the remaining ₹2,900 crores to the road sector.
Today, Welspun Enterprises' stock price surged by nearly 9% in the opening hours of the market and is currently trading 5% higher.