VA Tech Wabag Ltd resumes AGCC Russia project

VA Tech Wabag Ltd had secured an Engineering and Procurement ('EP') order from Amur Gas Chemical Complex LLC., (AGCC / Customer) in Russia in August 2021. This is to inform that the project has been progressing well and based on the progress achieved, the Company has invoiced and collected USD 21.61 Million. The company has now received a communication from the Customer to resume the services and works under the Contract, which they had suspended in April 2022 on account of ongoing Geopolitical uncertainty in the region. Pursuant to this resumption intimation, the company is resuming the work with full resources to meet the project timelines.

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 229.80 as compared to the previous close of Rs. 235.10. The total number of shares traded during the day was 21480 in over 1413 trades.

The stock hit an intraday high of Rs. 236.05 and intraday low of 227.30. The net turnover during the day was Rs. 4943160.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 Resumption Project Russia