IVRCL bags Rs 500cr Chennai water project

IVRCL Infrastructures & Projects (IVRCL) has bagged Rs 500 crore drinking water project from Chennai Metro Water Supply & Sewerage Board.

According to a release issued by IVRCL to the BSE, the company is to design, build, own, operate and transfer (DBOOT) basis the 100 million litre per day (MLD) sea water desalination plant at Minjur, Chennai,  to be transferred after 25 years.

The company, along with its technical partner from Spain, has proposed to implement the project through a special purpose vehicle (SPV) incorporated under the Companies Act.