Modern Engineering and Projects Ltd to form JV with Aquatech Solutions Pvt Ltd

The board of directors of Modern Engineering and Projects Limited at its meeting held today i.e. February 13, 2024 has approved the execution of Joint Venture agreement (in the form of AOP) with Aquatech Solutions Private Limited and the same is executed at the meeting.

Aquatech and MEPL have executed a Joint Venture Agreement in the name and style of Aquatech - MEPL Nashik JV (in the form of AOP) for Joint Jointly development /execution of work of Design, Construction, Supply, Erection, Testing, Commissioning, Startup and Performance run of 3 Months followed up by Operation & Maintenance (O & M) of 60 Months for following work of The Nashik Municipal Corporation ("NMC"), Nashik:

- 11.5 MLD capacity Sewage Treatment Plant (STP) based on SBR Technology at Gangapur. (Lump sum Turnkey Basis)

- 29.5 MLD Tertiary Treatment Plant (TTP) including 18.0 MLD Existing & 11.5 MLD Proposed STP for reuse and recycle. (Lump sum Turnkey Basis)

- 1.65 MLD Treated water sump, Pump house and allied Electro-mechanical Works for Reuse and Recycle of Tertiary Treated STP Water Lump sum Turnkey Basis)

- Providing and laying Rising Main for Reuse of Tertiary Treated STP water and construction of 2 no'sof 0.5 ML ESR and Rising main and allied works for Reuse of tertiary treated STP water for reuse and recycle.

- Operation & Maintenance for the first three points above for 60 Months after Completion of work.

The Profit of the Aquatech - MEPL Nashik JV (in the form of AOP) shall be shared equally i.e 50-50 between both the parties.

Source : Equity Bulls

Keywords

ModernEngineeringandProjects JV AquatechSolutions