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WABAG expands Global footprint with technologically advanced Oil & Gas order worth 165 Million USD in Russia

Posted On: 2021-08-02 12:02:07 (Time Zone: UTC)


VA TECH WABAG ('WABAG'), a leading pure-play water technology Indian Multinational Group, consolidates its market position in the Oil & Gas sector further, by securing a breakthrough Engineering and Procurement ('EP') order worth 165 Million US Dollars (about 1,230 Crore) from Amur Gas Chemical Complex LLC., CAGCC') in Russia. AGCC is a joint venture of SIBUR Holding Russia and China Petroleum & Chemical Corporation ('Sinopec'), China. AGCC is set to become one of the world's largest basic polymer production facilities.

Wabag shall be the technology and system integrator for the Integrated Treatment Facilities (Waste Water Treatment unit). WABAG shall deploy advanced technologies to treat waste water streams. The facility will have a concentrate evaporator unit to maintain Zero Liquid Discharge (ZLD) and the sludge will be dewatered and dried. The facility will be designed to Recycle & Re-use the waste water released from the petrochemical unit, substituting about 25% of the raw water intake requirement. The deployment of ZLD and Recycle & Re-use makes the facility environmentally friendly and meets stringent environmental regulations.

WABAG shall perform the scope of Design, Engineering, Procurement, Supply and Supervision of the facilities during erection and commissioning including process & technology equipment, piping system, electrical, instrumentation / control systems and building & architectural materials.

This technology dominant breakthrough order in the CIS region, especially in the Russian Federation also marks WABAG's largest order in the Oil & Gas sector.

Commenting on this order win, Mr. Pankaj Sachdeva, CEO - India Cluster said, "This order from a marquee customer in the Oil & Gas sector, re-affirms our technological superiority and execution excellence, built over the years. We are proud to have secured this contract amidst stiff international competition and we are confident that this project will be another landmark reference for WABAG."

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 393.45 as compared to the previous close of Rs. 369.8. The total number of shares traded during the day was 145711 in over 5098 trades.

The stock hit an intraday high of Rs. 399 and intraday low of 369.25. The net turnover during the day was Rs. 56610947.


Source: Equity Bulls

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