VA TECH WABAG LIMITED ('WABAG'), a leading pure play water technology Indian Multinational Company has secured 4.5 Million Bahraini Dinar (approx. 900 Million INR) order from Ministry of Works, Municipalities Affairs and Urban Planning ('MoW') in Kingdom of Bahrain towards Operation, Maintenance and Management of the Madinat Salman Sewage Treatment Plant ('STP') and Long Sea Outfall for a period of 5 years.
WABAG was awarded the EPC scope of the 40 MLD Sewage treatment plant and long sea outfall in Oct 2015 by Ministry of Housing, Kingdom of Bahrain to cater to a population of approx. 100,000 (close to 16,000 units). The project was funded by Abu Dhabi Fund for Development. The EPC project cost was approx. 34.74 Million Bahraini Dinar.
The project was successfully completed on 31st October 2018 post which WABAG has been operating and maintaining this plant since 1st of November 2018 till date for Ministry of Works. Recently, the MoW awarded a long term 5 year O&M contract for 4.5 Million Baharaini Dinars towards operation, maintenance and management of the Madinat Salman STP.
Commenting on this order, Mr. Deep Raj Saxena, CEO - Middle East and Africa Cluster said, "This is a proud moment for WABAG, as once again our execution quality has been recognized by our clientele, resulting in a repeat order towards the O&M activities. In line with our growth strategy, this new order to our strong O&M order book across the globe provides annuity income which helps us with improved cash flow and better revenue predictability."
Shares of VA TECH WABAG LTD. was last trading in BSE at Rs.78 as compared to the previous close of Rs. 75.5. The total number of shares traded during the day was 42639 in over 1726 trades.
The stock hit an intraday high of Rs. 78.9 and intraday low of 73. The net turnover during the day was Rs. 3228342.