Jain Irrigation Systems today said its Israeli subsidiary has bagged a Rs 140 crore contract from the Eastern African nation of Eritrea for supply and installation of solar powered drip irrigation systems.
The contract will be executed in next 18 months, the company said in a BSE filing.
"NaanDanJain Irrigation today signed a contract with Ministry of Agriculture and National Development, Eritrea for supply and installation of solar powered drip irrigation systems of value 18.7 million euros (Rs 140 crore)," Jain Irrigation said.
The project is fully funded by the European Union and will bring much needed relief for about 2,000 farmers in 14 locations spread over Eritrea, it said.
In each of the 14 project locations, water from reservoirs will be supplied to groups of farmers through the drip irrigation systems, it added.
NaanDanJain Irrigation is a wholly-owned subsidiary of Jain Irrigation.
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