Ion Exchange (India) announced that its subsidiary, Ion Exchange and Company LLC, located in Oman, has been awarded a significant contract from Petroleum Development Oman. According to reports from CNBC TV18, the contract involves a Design, Build, Own, Operation and Maintenance agreement for potable water facility and sewage treatment facility in the South PDO Concession Area. The order was awarded by an international entity, Petroleum Development Oman, and does not involve any interest from the promoter, promoter group, or group companies.
The contract is valued at OMR 73.46 Million (approximately ₹1,730 crore) for twenty years as reported by CNBC TV18. This represents a substantial long-term commitment from Petroleum Development Oman to Ion Exchange for water and sewage infrastructure services in the South PDO Concession Area. The contract will be executed by the subsidiary based in Oman, providing Ion Exchange with a twenty-year operational framework in the Omani market.
Shares of Ion Exchange (India) Ltd ended at ₹388.10 on February 13, 2026, following the contract announcement. As per CNBC TV18, this positive market response reflects investor confidence in the company's international expansion and long-term contract wins. The stock has shown volatility with a 52-week high of ₹580.75 and 52-week low of ₹322.10, indicating market uncertainty around the company's performance.
This latest Oman contract adds to Ion Exchange's growing portfolio of water treatment projects. Last year in December, the company secured contracts worth approximately ₹205 crore from Rayzon Energy Private Ltd and INOX Solar Ltd for ultra-pure water and wastewater treatment systems for solar manufacturing projects. The Rayzon Energy contract was valued at approximately ₹95 crore for process and utility systems including ultra-pure water systems and zero liquid discharge facilities for a 5.1 GW photovoltaic solar project in Gujarat, while INOX Solar Limited placed an order worth around ₹110 crore for ultra-pure water generation and wastewater treatment systems in Odisha. These projects are expected to be completed within 9 months and 10 months respectively from the project award date.
