IDE Technologies Signs Contract for New SWRO Desalination Plant in Tamil Nadu, India
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Businesswire
- Contract Signing: IDE Technologies has signed a contract with the State Industries Promotion Corporation of Tamil Nadu to design and construct a 60 MLD seawater reverse osmosis desalination plant, aimed at addressing the growing water scarcity challenges in the region.
- Partnership Collaboration: The project will be executed in partnership with Jindal Water Infrastructure and Vishnusurya Projects, showcasing IDE's strong collaborative network and industry influence in the global water treatment market.
- Long-term Operation: The contract includes design, construction, and operation maintenance for 15 years post-launch, ensuring sustainability and long-term water supply capabilities for the project.
- Market Competitive Advantage: IDE secured the project amidst strong competition, utilizing a Hybrid Annual Model and Public-Private Partnership (PPP) framework, demonstrating its leadership and innovative capacity in the water treatment sector.
Analyst Views on IDE
Wall Street analysts forecast IDE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IDE is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 12.400
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About IDE
Voya Infrastructure, Industrials and Materials Fund (the Fund) is a diversified closed-end fund. The Fund is focused on achieving its investment objective by investing in companies that own and/or operate infrastructure facilities in the infrastructure sector, and in a range of companies, principally in the industrials and materials sectors. The Fund will seek to achieve its investment objective by investing approximately 80% of its managed assets in the equity securities of, or derivatives having economic characteristics similar to the equity securities. The Fund will also seek to secure gains and develop the stability of returns over a market cycle by writing call options on selected indices and/or exchange-traded funds. It invests in various sectors, such as integrated telecommunication services, electric utilities, specialty chemicals, industrial conglomerates, and electrical components and equipment, among others. Voya Investments, LLC serves as the investment adviser to the Fund.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
