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WABAG secures Hybrid Annuity Order from Namami Gange worth INR 575 Crore

Posted On: 2019-03-08 09:29:31

VA TECH WABAG LIMITED ('WABAG'), a leading Pure Play Water Technology Indian Multinational Company has secured INR 575 Crore worth order under the prestigious National Mission for Clean Ganga ('NMCG') Scheme to Design, Build, Rehabilitate and Operate Sewage Treatment Facilities and associated infrastructure in Kolkata, West Bengal.

The project will be executed on Public Private Partnership basis under the Hybrid Annuity Model ('HAM'). WABAG will build the sewage treatment plants over a period of 24 months and further Operate & Maintain them over a period of 15 years.

The Design, Build, Rehabilitate and Operate contract from Kolkata Municipal Development Authority, funded by NMCG includes Engineering, Supply and Construction of new Sewage Treatment Plants, Renovation and Up-gradation of existing Sewage Treatment Plants, Rehabilitation of pumping stations and other associated infrastructure. WABAG will build the plants using resource recovery from bio-sludge in line with India's green power vision.

Commenting on this order, Mr. S Varadarajan, Whole-time Director and Chief Growth Officer said, "We are delighted and proud to have secured our breakthrough HAM order under the prestigious Namami Gange Program and this win reinstates our commitment to ensure water security for the nation by partnering with the Government policies. Once completed, these plants will contribute to reducing the discharge of untreated sewage into the Holy Ganga from the state of West Bengal significantly."

Shares of VA TECH WABAG LTD. was last trading in BSE at Rs.326.2 as compared to the previous close of Rs. 325.95. The total number of shares traded during the day was 14799 in over 401 trades.

The stock hit an intraday high of Rs. 328.35 and intraday low of 319.65. The net turnover during the day was Rs. 4801629.


Source: Equity Bulls

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