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Ion Exchange bags EPCC contract worth Rs357cr from IOC; Stock up over 1%

The contract is for the design, installation of an effluent treatment plant on a turnkey basis for its Para Xylene and Purified Terephthalic Acid complex project in Orissa.

August 05, 2021 12:49 IST | India Infoline News Service
IT Stocks Up
Ion Exchange (India) Limited rose over 1% on Thursday after the Indian Oil Corporation (IOC) awarded an engineering, procurement, construction, and commissioning (EPCC) contract to the company worth Rs357.465cr.

“The company has been awarded by Indian Oil Corporation Limited EPCC contract for design, installation of the effluent treatment plant on turnkey basis at a contract value of Rs357.465cr for its Para Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Orissa,” company said in a filing on Wednesday.

PTA is a major raw material used to manufacture polyester fibers, PET bottles and polyester film used in packaging applications. The project is to be constructed and commissioned within 26 months from the date of Letter of Acceptance, company said.

At around 12.52 PM, Ion Exchange (India) Ltd was trading at Rs2,534 per piece up by Rs27.65 or 1.1% from its previous closing of Rs2,506.35 per piece on the BSE.

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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