VA Tech Wabag Jumps 3% After Rs 1,000 Crore Order

Shares of VA Tech Wabag Ltd rose 3% to touch the day’s high of Rs 1,285.90 on 12th March. This happened after the company said it had secured a “mega” order from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB). The order was for a 45 million litre per day (MLD) tertiary treatment reverse osmosis (TTRO) plant in Kodungaiyur, Chennai.

VA Tech Wabag classifies orders above Rs 1,000 crore as “mega” orders.

The company said it received the Letter of Award from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) on a public-private partnership (PPP) basis.

Under the contract, VA Tech Wabag will refurbish, finance, operate, maintain and later transfer the TTRO plant in Kodungaiyur, Chennai.

The facility was originally developed by CMWSSB in 2019. It was designed to supply treated wastewater to industries in the Manali-Ennore and Manali-Minjur industrial corridors.

As part of the project, the company will restore the plant’s full 45 MLD treatment capacity within 18 months. After that, it will operate and maintain it for 18.5 years.

VA Tech Wabag said it already operates a 45 MLD TTRO plant in Koyambedu, Chennai. Furthermore, it operates a 40 MLD TTRO facility in Ghaziabad. This strengthens its presence in water recycling and reuse projects.

At 10:48 AM, shares of VA Tech Wabag were trading 0.73% higher at Rs 1,261 on the NSE.

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