The transaction includes a proposed investment of ₹960 crore, to be infused in multiple tranches as part of a broader strategic reorganisation approved by the board.
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It is to be executed in one or more tranches through a public offer, subject to necessary regulatory and statutory approvals.
The mandates shall cover end-to-end municipal sanitation services in compliance with the Solid Waste Management Rules, 2016.
The company said that it has received the contract from a domestic entity. It plans to execute the project within a period of 4,214 days.
As per the arbitral award, Bhiwandi Nizampur City Municipal Corporation has been directed to pay ₹61.44 crore as the principal amount to PSP Projects.
The company disclosed in an exchange filing that the order falls under the ₹250 crore to ₹600 crore value category, in line with its internal project classification.
This disclosure comes after an earlier intimation by the company for material litigations involving the Sukinda Chromite Block.
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As per the terms of agreement, the proposed projects will include the development of renewable energy capacity across various locations in Gujarat.
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