Va Tech Wabag gains 6% on winning order worth Rs 1,187 crore

The project will be implemented by BUIDCO with financial assistance from the World Bank under the NMCG

  

Share price of Va Tech Wabag rose 6 percent in the early trade on July 23 after the company won an order worth Rs 1,187 crore.

The company has secured an order from Bihar Urban Infrastructure Development Corporation (BUIDCO) under the National Mission for Clean Ganga (NMCG) Scheme to develop Sewage Treatment Plants of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, as per company release.

This project comprises of design, build and operate scope worth Rs 940 crore and hybrid annuity scope worth around Rs 247 crore.

The company will be responsible for the operations and maintenance of the STPs and the sewerage infrastructure for a period of 15 years.

The project will be implemented by BUIDCO with financial assistance from the World Bank under the NMCG.

Varadarajan S, Director & Chief Growth Officer of the company said, "With this repeat order in Bihar, WABAG will now be responsible for sewerage infrastructure in 4 out of the 6 zones of Patna, thus testifying the trust reposed by NMCG and BUIDCO on WABAG."

"WABAG is already executing projects for BUIDCO in Pahari and Karmalichak. All these projects, on completion, will ensure a cleaner and a healthier ecosystem for over 50 percent of the population of Patna," he added.

At 0931 hours, Va Tech Wabag was quoting at Rs 306.95, up Rs 15.10, or 5.17 percent on the BSE.

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