Developing world needs more innovative but low cost technology: Gadkari

7/3/2018

New Delhi,Minister for Water Resources, River Development & Ganga Rejuvenation, Road Transport and Highways Nitin Gadkari while congratulating WAPCOS on its 50th Foundation Day said the PSU has shown how a combination of good technology and reasonable cost can yield positive results. He said the developing world today needs more such technology that was effective, yet low cost. Citing an example of such economically-viable technology, he said, "We are now planning to use solar power for desalinisation of sea water." He also motivated WAPCOS to continue working with honesty, credibility and transparency to create goodwill and confidence amongst its clients. Urging the PSU to enter more deeply into the infrastructure sector, Mr Gadkari said that they should work in the direction of mass rapid transport system, which is the need-of-the-hour. WAPCOS on Tuesday celebrated its 50th Foundation Day here.On the occasion, Mr Gadkari was presented with an interim dividend of Rs 50 crore by CMD of the PSU R K Gupta, which is the highest ever since its inception. With the issuance of bonus shares of Rs 35 crore, the company’s paid up capital had increased by 50 times, during the last eight years. The company’s profitability had also grown over 75 percent, from Rs 102.52 crore in 2013-14 to Rs 180 crore in 2017-18. Minister of State for Water Resources, River Development and Ganga Rejuvenation Arjun Ram Meghwal said he was delighted to see WAPCOS growing into a true Indian multinational with footprints across the globe. He commended the company for successfully undertaking some of the most challenging projects in inhospitable circumstances around the world such as Afghan-India Friendship (Salma) dam project. He also expressed hope that WAPCOS would soon become a “Navratna” organisation from “Mini Ratna”. MoS Satya Pal Singh said that WAPCOS had touched the lives of so many people across the globe through their work and had rendered borders meaningless. He added that technology was changing every day, and WAPCOS should take the challenge of adapting to it.Present were Ambassadors, High Commissioners, ministers and other dignitaries from several countries like Afghanistan, Rawanda, Tanzania, Senegal, Angola, Nepal, Bhutan, Cambodia, Mozambique, Congo, Burundi, Liberia, Zimbabwe, Laos, Malawi and Mongolia. During the event, four coffee table books were also released by Mr Gadkari. The four books relate to achievements of WAPCOS in power, water and infrastructure sectors.

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