- Agricultural tech provider Water Ways Technologies (WWT) has signed a contract for a large-scale irrigation project in Uzbekistan
- The project is worth approximately C$1.3 million in aggregate revenue to the company
- Under the contract, Water Ways will irrigate a field of crops including carrots, potatoes, corn, and almonds
- The company expects to recognise revenue from the project within the first six months of 2021
- Water Ways Technologies is up 7.69 per cent and is currently trading for seven cents per share
Agricultural tech provider Water Ways Technologies (WWT) has signed a contract for a large-scale irrigation project in Uzbekistan.
Under the project, the company will provide its drip irrigation technology in order to irrigate a field hosting several different crops. These crops include 250 hectares of carrots, potatoes, and corn, as well as a 40-hectare almond grove.
The owner of these crops will begin operating the system in the next season, with agronomic and technical assistance from Water Ways Technologies. The company will help the local Uzbek farm to utilise the drip irrigation system, and to adopt agro-technical practices which will improve the farm’s yield and output.
Water Ways Technologies’ Chairman and CEO, Ohad Haber, commented on this latest agricultural contract, which the company won after completing similar previous projects.
“I am extremely pleased with the signing of the contract. This is the second large-scale irrigation projects we are implementing in Uzbekistan,” he said.
“In 2019 and 2020, we completed a large cotton irrigation project, and we were chosen to lead this project as a result of the reputation we gained by completing the cotton project,” he added.
The irrigation project in Uzbekistan is worth approximately C$1.3 million in aggregate revenue to Water Ways Technologies. With the system set to begin operating in the next season, the company expects to recognise revenue from the project within the first six months of 2021.
Water Ways Technologies is up 7.69 per cent and trading for seven cents per share, as of 10:09am EST.