Water treatment player VA Tech Wabag has signed a contract with Indian Oil Corporation (IOC) for setting up an effluent treatment plant (ETP) at a cost of Rs250 crore, the company said today.
The contract with IOC has been signed recently for setting up an ETP facility at IOC's Paradip refinery besides a water-recycling plant, VA Tech said in a press statement.
The scope of the project includes design, engineering, supply, construction, erection, testing and commissioning of ETCP and recycling system on a turnkey basis, the company said.
On Thursday, VA Tech Wabag gained 0.74% to Rs1,660.70 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.33% up at 19,930.64 points.
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Auto major Mahindra & Mahindra (M&M) plans to enter the US market with its electric vehicles from group firm Reva's portfolio within next five years.
At present, the US government provides various incentives to the tune of $7,500 on electric vehicles, Mahindra Reva Electric Vehicles chief of operations R Chandramouli said. "We want to be present across the globe in the next five years, apart from our current operations in the Europe and India," he added.
In May this year, M&M acquired 55.2% stake in Chetan Maini-promoted Reva Electric Car Company through a combination of equity purchase and a fresh equity infusion of over Rs45 crore into the company.
The company is working to introduce electricity-driven technology in M&M's entire product portfolio and a final announcement will be made during the next fiscal.
On Thursday, M&M rose 0.31% to Rs780.40 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.33% up at 19,930.64 points.