VA Tech Wabag Bags INR 10 Billion Government Contract; Share Price Up 3%

MT Newswires Live

03/12

Water technology company VA Tech Wabag (NSE:WABAG, BOM:533269) has secured a letter of award worth over 10 billion Indian rupees from the Chennai Metropolitan Water Supply and Sewerage Board, according to a Thursday filing to the Indian stock exchanges.

The contract is for the refurbishment, finance, operation, maintenance, and transfer of a 45 million liters per day (MLD) Tertiary Treatment Reverse Osmosis (TTRO) plant at Kodungaiyur in Chennai, India.

The project will be executed under the public-private partnership mode, and Wabag will refurbish and upgrade the existing TTRO facility to restore its full treatment capacity of 45 MLD within 18 months.

After the refurbishment, Wabag will operate and maintain the facility for a period of 18.5 years.

The stock was up 3% in Thursday morning trade.

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