Mumbai: Agriculture conglomerate Jain Irrigation Systems today said it has bagged an order worth Rs77.8 crore from the World Bank for irrigation-related works in Tamil Nadu.
“The company has bagged the prestigious Tamil Nadu -- Irrigated Agriculture Modernization and Water bodies Restoration and Management (IAMWARM) order of World Bank, valued at Rs778 mn (Rs77.8 crore), to be executed during this year, Jain Irrigation said in a filing to the BSE.
The World Bank-aided IAMWARM project covers 63 river sub basins and has been initiated in Tamil Nadu. In the first and second phases 25 sub-basins would be covered, it added.
The contract for supply and installation of drip and sprinkler irrigation systems, benefiting about 15,000 farmers in the 25 sub-basins, has been awarded to Jain Irrigation through a completive evaluation process, the filing said.
Jain Irrigation would also be involved in promoting crop diversification and enhancing farm income through value-chain building in specific crops.
Shares of Jain Irrigation Systems were trading at Rs650.40, down 0.11% on the BSE.