Jain Irrigation Bags Rs 220-Crore Contract From Tanzania

New Delhi: Jain Irrigation Systems has bagged a Rs 220-crore contract from Tanzania authority DAWASA for supply and installation of water distribution network in the capital city, Dar Es Salaam.

"The $32.98 million (Rs 2.2 billion) project is an integrated water supply project with unique design to ensure reduced water supply losses (in) entire network," the company said in a filing to the BSE.

The company said it has got the contract from the Dar Es Sallam Water and Sewerage Authority (DAWASA), Tanzania and intends to complete it in the next 15-18 months or so.

The project is financed by Exim Bank of India under the government's line of credit (LoC) programme.

Jain Irrigation would be responsible for survey, design and execution of various project components, it added.

The project, to be implemented in the capital city Dar Es Salaam, will create complete network of water for large number of citizens, it said, adding that this deal will help the company to grow its exports next year significantly.

Shares in Jain Irrigation, on Wednesday, ended 4.34 per cent lower at Rs 62.85 apiece on the BSE, whose benchmark Sensex index finished down 1.08 per cent.