The project will be executed on public private partnership basis under the Hybrid Annuity Model (HAM).
WABAG will build the sewage treatment plants over a period of 24 months and further operate & maintain them over a period of 15 years, as per a BSE filing.
S Varadarajan, Whole-time Director and Chief Growth Officer said, "We are delighted and proud to have secured our breakthrough HAM order under the prestigious Namami Gange Program and this win reinstates our commitment to ensure water security for the nation by partnering with the Government policies. Once completed, these plants will contribute to reducing the discharge of untreated sewage into the Holy Ganga from the state of West Bengal significantly.
The Design, Build, Rehabilitate and Operate contract from Kolkata Municipal Development Authority, funded by NMCG includes Engineering, Supply and Construction of new Sewage Treatment Plants, Renovation and Up-gradation of existing Sewage Treatment Plants, Rehabilitation of pumping stations and other associated infrastructure. WABAG will build the plants using resource recovery from bio-sludge in line with India's green power vision.
Va Tech Wabag Ltd is currently trading at Rs329 up by Rs2.8 or 0.86% from its previous closing of Rs326.20 on the BSE. The scrip opened at Rs330.60 and has touched a high and low of Rs332 and Rs329 respectively.