SPML Infra signs agreement of Jal Jeevan Mission-Isarda water supply project valued at ~Rs1,157 crore; Stock ends 5% higher

SPML Infra Limited has signed the Contract Agreement with PHED, Rajasthan for a large water supply ‘Isarda Water Supply Project’ under the Jal Jeevan Mission to provide clean drinking water to 25 Lac population in Dausa and Sawai Madhopur districts in Rajasthan.

The project valued at Rs1157.80 crore (USD 151.60 Million) is aimed to provide clean drinking water facilities to about 25,00,000 people residing in 1256 villages and 6 towns of Dausa and Sawai Madhopur districts in Rajasthan. The project will be completed within the stipulated 24 months period (3% incentive will be given for completing before timeline) and after the defect liability in a year period, SPML Infra will be responsible for managing the operation & maintenance of the project for next 10 years’ time.

SPML Infra has become a trusted partner to execute medium and large water supply projects under the most ambitious ‘Jal Jeevan Mission’ scheme in both rural and urban India. The company has already executed a number of projects under this scheme in different states and has created a landmark with faster execution of projects in an effort to achieve the goal of ‘Har Ghar Jal’.

Subhash Sethi, Chairman, SPML Infra Limited has commented on the agreement signing, “We are indeed very happy to work in Rajasthan where we have executed a large number of water and power projects over the last four decades. We are thankful to Govt. of Rajasthan for entrusted us with the Isarda Water Supply project that will change the entire situation of drinking water supply in Dausa and Sawai Madhopur districts.

We are also thankful to our other stakeholders, including investors and lenders for having confidence in the company. SPML Infra has always been committed to water management and it will be our endeavor to develop a robust and sustainable infrastructure for providing clean piped drinking water facilities to the large population in our country. We are very happy to be a significant part of the Jal Jeevan Mission.”

SPML Infra ended at Rs63.30 apiece up by Rs3 or 4.98% on the BSE.