Ceinsys Tech Ltd., a prominent technology-driven engineering solutions provider, has announced the receipt of a Letter of Intent (LoI) from the Nashik Municipal Corporation. The contract pertains to the appointment of Ceinsys as the Project Management Consultancy (PMC) for the improvement of the sewage management system in Nashik City. The initiative aims to prevent pollution in the Godavari River and will be implemented under the Public-Private Partnership – Hybrid Annuity Model (PPP-HAM).
Project Worth Over ₹5.80 Crores
The total contract value stands at ₹5,80,92,000 (Rupees Five Crore Eighty Lakhs Ninety-Two Thousand). This significant project underscores Ceinsys Tech’s growing presence and trusted expertise in municipal infrastructure development, especially in critical urban planning domains like sewage management and river pollution mitigation.
Scope and Duration of the Project
Under this PMC assignment, Ceinsys will be responsible for overseeing the implementation and management of the sewage system improvements in Nashik. The contract has a defined execution period of one year. Given the ecological and public health implications of the Godavari River, the project is expected to have a meaningful environmental and civic impact in the region.
Contract Details and Compliance
As disclosed in accordance with Regulation 30 of SEBI’s (Listing Obligations and Disclosure Requirements) regulations and in line with SEBI Circular No. SEBI/HO/CFD-PoD1/P/CIR/2023/123, the order has been awarded by a domestic entity—Nashik Municipal Corporation. The company has clarified that neither the promoter nor the promoter group holds any interest in the awarding entity, and the transaction does not fall under related party transactions.
Strengthening Ceinsys’ Position in Urban Infrastructure
This development not only enhances Ceinsys Tech Ltd.’s portfolio of government projects but also reinforces its commitment to sustainable urban infrastructure solutions. With increasing emphasis on environmental protection and water management, the project aligns with the national objectives of clean water and sustainable cities.
By securing this LoI, Ceinsys Tech Ltd. continues to demonstrate its capabilities as a reliable partner for municipal bodies in India. The successful execution of this project is likely to open doors for similar urban development opportunities and further solidify the company’s role in India’s smart city mission.
