VA TECH WABAG LIMITED ('WABAG'), a leading pure play water technology Indian Multinational Company has secured INR 1,477 Crore worth order from State Mission for Clean Ganga - Uttar Pradesh towards Operation, Maintenance and Management of the Sewage treatment and network infrastructure in the cities of Agra and Ghaziabad for a period of 10 years, expandable for an additional period of 5 years.
WABAG will manage, operate and maintain 22 Sewage Treatment Plants, 22 Pumping Stations and underground network of over 3,000 kilometers with the objective of providing round the clock uninterrupted operations. WABAG shall also improve, rehabilitate and up-grade facilities related to systems, structures and equipment etc. associated with the Sewage Treatment Plants and underground collection systems.
Commenting on this order, Mr. Pankaj Sachdeva, CEO - India Cluster said, "This is a proud moment for WABAG, as we have been recognized as a competent technology partner for providing long-term sustainable solutions by the Government through the One City - One Operator model. Such long-term orders provide annuity income which helps us with improved cash flow and better revenue predictability. With our rich experience of managing over 120 sewage treatment and pumping units with a sewage load of 4000 MLD and a population of 16 Million people in the city of Istanbul, Turkey, we are confident of making this new initiative in India a success and a model that can be replicated across the country."
Commenting on this order, Mr. Mohamed Shaffi, Chief Business Officer, (O&M) said, "The One City - One operator in India marks a paradigm shift in the sewage management sector with single point ownership & accountability. WABAG which is currently operating more than 65 O&M contracts globally and backed by its skilled workforce is best placed to efficiently execute this contract. This contract will ensure treatment of over 650 MLD in both cities of Agra and Ghaziabad put together, adhering to national treatment standards thus providing cleaner and healthier eco system to the 3 million population of Agra and Ghaziabad. WABAG is proud to play a significant part in the rejuvenation of river Yamuna, as this will ensure treatment of over 80% of the sewage generated in both the cities."
Shares of VA TECH WABAG LTD. was last trading in BSE at Rs.312.65 as compared to the previous close of Rs. 321.05. The total number of shares traded during the day was 3601 in over 253 trades.
The stock hit an intraday high of Rs. 319.3 and intraday low of 312. The net turnover during the day was Rs. 1140543.