AWC bags RM13.1mil India waste system contracts
KUALA LUMPUR: AWC Bhd has secured two contracts worth RM13.1 million to provide automated waste collection system (AWCS) connections for upcoming developments at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, India.
KUALA LUMPUR: AWC Bhd has secured two contracts worth RM13.1 million for automated waste collection systems in Gujarat International Finance Tec-City, India. The company's subsidiary, Stream Industries Sdn Bhd, signed agreements with the GIFT City company on September 28. The deals cover the domestic tariff area and special economic zone regions, with a DTA contract worth RM8.44 million (including GST) and a SEZ contract valued at RM4.69 million (excluding GST).
The company is in the process of setting up its operations in India and will transfer the agreements to a newly incorporated Indian entity after it completes the novation. AWC expects the contracts to positively impact its future earnings and net assets without significantly affecting its financial gearing.
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