WABAG secures an EP order towards a Brine Water Treatment Package worth about 18 Million EUR

VA TECH WABAG ('WABAG'), a leading pure-play water technology Indian Multinational Group, secured an Engineering and Procurement ('EP') order worth about 18 Million Euros (about 149 Crore) from DL E&C CO., LTD., Korea, towards a Water treatment package for the EuroChem Methanol Production facility in Kingisepp, Russia.

WABAG's scope includes Design, Engineering and Supply, Installation, PreCommissioning, Commissioning and start-up of the plant and is scheduled to be completed over a 15 month period. The project will employ softening, Ultrafiltration and Reverse Osmosis technologies to treat brine water which will be reused as process water in the facility. This order includes adequate payment securities which de-risks us from the geo political uncertainties.

Commenting on this order win, Mr. Pankaj Sachdeva, CEO - India Cluster said, "While being vigilant about the Geo political situation, we remain positive about the Russian Federation as a market opportunity and this order is a further testament of the same. WABAG further strengthens its position in the industrial wastewater segment with this order. This order was secured through joint efforts of Wabag India and Wabag Romania, demonstrating our 'One Wabag' philosophy."

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 247.40 as compared to the previous close of Rs. 244.10. The total number of shares traded during the day was 16874 in over 1042 trades.

The stock hit an intraday high of Rs. 250.85 and intraday low of 241.00. The net turnover during the day was Rs. 4149975.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 OrderWin Russia MethanolProductionFacility