Shakti Pumps on Wednesday said that it had received pending USD 1 million for a Uganda project from EXIM Bank on behalf of Government of Uganda.

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The company earlier on April 12, 2023, said that it has started operations in in Uganda to Supply Solar Powered Water Pumping System by Shakti Pumps (India) Limited. Under the project, Shakti Pumps will provide safe and sustainable water supply to half a million Ugandans across 20 rural districts.

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Shakti Pumps, a manufacturer of stainless-steel submersible solar pumps, pressure booster pumps among other products, was awarded this order from the Government of Uganda represented by the Ministry of Water and Environment for supplying a solar-powered water pumping system in March 2021 at a total contract price of USD 35.30 million (exclusive of VAT) funded by India Exim Bank in Uganda.

Shakti Pumps shares closed 0.28 percent down at Rs 434.10 per share on NSE today, April 19, 2023.