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SPML Infra JV Secures International Order worth USD 32.01 Million

Posted On: 2018-01-18 03:48:08

SPML Infra Limited with its joint venture partner OM Metals Infraprojects has secured an international order from Ministry of Food and Agriculture, Republic of Ghana for the work related to rehabilitation and completion of Kpong left bank irrigation project in Ghana, Africa for USD 32,012,453 (INR approx. 205 Crore).

The scope of work includes modification of existing supply canal, main canal, cross regulators and installation of new distribution structures. This World Bank funded project has a time line of 18 months to complete. The Letter of Intent (LoI) received by the JV last week and the projects will be executed within the given period.

Mr. Subhash Sethi, Chairman, SPML Infra, commented, "We are delighted with the new order from Ghana. This is the second order from African countries after we have received an order from Rwanda last year. It is an opportunity for both SPML Infra and OM Metals to become reliable partner for the sustainable infrastructure development in Ghana and other African countries. We are sure that our rich experience in drinking water management and irrigation will help us in delivering the projects on time with excellence in execution and EPC services. We are committed to a long term association with African countries to provide complete EPC solutions for water and power projects combining customized engineering, procurement, project management using modern technologies, meeting timelines and conforming to international safety standards."

Shares of SPML Infra Limited was last trading in BSE at Rs.144 as compared to the previous close of Rs. 144.7. The total number of shares traded during the day was 19265 in over 202 trades.

The stock hit an intraday high of Rs. 150.25 and intraday low of 143.3. The net turnover during the day was Rs. 2848709.

Source: Equity Bulls

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