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VA TECH WABAG LIMITED (WABAG), a leading Indian MNC in water and waste water management, secured an order from Bangalore Water Supply and Sewerage Board (BWSSB) for Rs.2.17bn. The order comprises of Rs.1.94bn towards construction of 60 MLD waste water treatment plant at K&C Valley with power generation and Rs.230mn towards operation and maintenance for a period of seven years. The project is funded by Japan International Cooperation Agency (JICA).
Commenting on the development,Rajiv Mittal, Managing Director said "We are delighted to get this repeat order from BWSSB which is one of our key clients in municipal sector and this goes to show that WABAG continues to enjoy the customer confidence based on long term relationship. In fact, we successfully implemented four projects in Bangalore at Kadabesanahalli, Nagasandra and Mailasandra besides extension and refurbishment of the existing plant at K&C Valley."
According to Rajneesh Chopra, SBU Head - Operations Business Group "Currently WABAG has been operating and maintaining five sewage treatment plants for BWSSB - Kadabesanahalli, Nagasandra, KR Puram, V Valley and K&C Valley and treating 488 MLD waste water for Bangalore City and with this order, the waste water treatment by WABAG would cross 500 MLD mark".
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.