Va Tech Wabag secures Engineering and Procurement order of Rs1,230cr from Russia's AGCC

AGCC is a joint venture of SIBUR Holding Russia and China Petroleum & Chemical Corporation (`Sinopec'), China.

Aug 03, 2021 02:08 IST India Infoline News Service

Va Tech Wabag (Wabag) has secured a breakthrough Engineering and Procurement (`EP') order worth $165 Million (about Rs1,230cr) 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.

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."

In its regulatory filing, Wabag stated that AGCC is set to become one of the world's largest basic polymer production facilities.

Furthermore, Wabag shall be the technology and system integrator for the Integrated Treatment Facilities (Waste Water Treatment unit). WABAG shall deploy advanced technologies to treat wastewater 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 & Reuse the wastewater 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.

Also, WABAG will 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.

At around 2.33 PM, Wabag was trading at Rs392.55  per piece flat compared to the previous closing on Sensex. 

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