Ion Exchange and Company LLC, a subsidiary based in Oman, has secured a major contract from Petroleum Development Oman (PDO). The agreement covers the Design, Build, Own, Operation, and Maintenance (DBOOM) of a Potable Water Facility and Sewage Treatment Facility in the South PDO Concession Area. The total contract value is OMR 73.46 Million, equating to approximately INR 1,730 crores over a twenty-year period.
International Contract Awarded to Subsidiary
Ion Exchange (India) Limited has announced a significant international contract secured by its subsidiary, Ion Exchange and Company LLC, located in Oman. This award comes from Petroleum Development Oman (PDO), a key entity in the region, reinforcing the company’s global footprint in water management services.
Scope and Duration of Agreement
The contract is structured as a comprehensive Design, Build, Own, Operation and Maintenance (DBOOM) agreement. The primary focus will be the development of essential infrastructure, specifically a Potable Water Facility and a Sewage Treatment Facility situated within the South PDO Concession Area.
The operational term for this comprehensive agreement is substantial, spanning twenty years from the date of execution.
Financial Value of the Project
The broad consideration for the twenty-year engagement is aggregated to OMR 73.46 Million. The company estimates this value to be equivalent to approximately INR 1,730 crores over the duration of the contract, marking it as a high-value long-term commitment for the Ion Exchange Group.
Regulatory Disclosure Details
The details provided confirm this is an International contract. Furthermore, the company has confirmed that neither the promoter nor the promoter group holds any interest in the awarding entity, Petroleum Development Oman. The transaction is also confirmed not to constitute a related party transaction.
Source: BSE
