Ion Exchange Secures OMR 73.46M Contract with Petroleum Development Oman
Filing Summary
Ion Exchange India Ltd’s subsidiary, Ion Exchange and Company LLC, has received a contract from Petroleum Development Oman. The agreement involves the design, build, ownership, operation, and maintenance of a potable water and sewage treatment facility in the South PDO Concession Area. The contract is valued at approximately OMR 73.46 million, equivalent to INR 1,730 crores, and spans a period of twenty years. This international contract does not involve any related party transactions. The details are disclosed under Regulation 30 of the SEBI Listing Obligations.
Ion Exchange India Ltd has announced that its subsidiary, Ion Exchange and Company LLC, located in Oman, has been awarded a contract by Petroleum Development Oman. The contract involves the design, build, ownership, operation, and maintenance of a potable water facility and sewage treatment facility in the South PDO Concession Area.
The total value of the contract is approximately OMR 73.46 million, which is equivalent to INR 1,730 crores. The contract duration is set for a period of twenty years. This information has been disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The contract is classified as an international order, as it is awarded by Petroleum Development Oman to Ion Exchange and Company LLC, a subsidiary of Ion Exchange India Ltd. The agreement covers the design, build, own, operation, and maintenance of the specified facilities, ensuring compliance with the terms set forth by the awarding entity.
There is no interest from the promoter or promoter group of Ion Exchange India Ltd in the entity that awarded the contract. Additionally, the contract does not fall within the category of related party transactions, as confirmed by the company.
Petroleum Development Oman is a prominent oil and gas exploration and production company in Oman. It focuses on the development of the country’s hydrocarbon resources, emphasizing sustainable and efficient energy solutions.
Ion Exchange India Ltd specializes in water and environment management solutions. The company is engaged in providing comprehensive solutions for water treatment, waste management, and pollution control. It focuses on expanding its international presence and enhancing its service offerings in the environmental sector.