VA TECH WABAG LIMITED
, a leading pure play water technology Indian Multinational Company has secured Rs1,477cr worth order from State Mission for Clean Ganga - Uttar Pradesh towards Operation, Maintenance and Management of the Sewage treatment and network infrastructure in the cities of Agra and Ghaziabad for a period of 10 years, expandable for an additional period of 5 years.
WABAG will manage, operate and maintain 22 Sewage Treatment Plants, 22 Pumping Stations and underground network of over 3,000 kilometers with the objective of providing round the clock uninterrupted operations. WABAG shall also improve, rehabilitate and up-grade facilities related to systems, structures and equipment etc. associated with the Sewage Treatment Plants and underground collection systems.
Commenting on this order, Pankaj Sachdeva, CEO - India Cluster said, "This is a proud moment for WABAG, as we have been recognized as a competent technology partner for providing long-term sustainable solutions by the Government through the One City - One Operator model. Such long-term orders provide annuity income which helps us with improved cash flow and better revenue predictability. With our rich experience of managing over 120 sewage treatment and pumping units with a sewage load of 4000 MLD and a population of 16 million people in the city of Istanbul, Turkey, we are confident of making this new initiative in India a success and a model that can be replicated across the country."
Va Tech Wabag Ltd is currently trading at Rs305.85 down by Rs8.75 or 2.78% from its previous closing of Rs314.60 on the BSE.
The scrip opened at Rs317.15 and has touched a high and low of Rs317.15 and Rs290 respectively. So far 3,09,223 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,720.56cr.