WABAG bags EP order worth Rs149 crore towards Brine Water Treatment; stock surges ~2%

1 Jun 2022 , 11:33 AM

VA TECH WABAG Limited, a leading pure-play water technology Indian Multinational Group, secured an Engineering and Procurement order worth about 18 million Euros (about Rs149 crore) from DL E&C CO., LTD., Korea, for a Water treatment package for the EuroChem Methanol Production facility in Kingisepp, Russia.

WABAG’s scope includes Design, Engineering and Supply, Installation, Pre-Commissioning, Commissioning, and start-up of the plant and is scheduled to be completed over a 15-month period. The project will employ softening, Ultrafiltration, and Reverse Osmosis technologies to treat brine water which will be reused as process water in the facility.

Commenting on this order win, Mr. Pankaj Sachdeva, CEO – of India Cluster said, “While being vigilant about the Geopolitical situation, we remain positive about the Russian Federation as a market opportunity and this order is a further testament of the same. WABAG further strengthens its position in the industrial wastewater segment with this order.

This order was secured through joint efforts of Wa India and Wabag Romania, demonstrating our ‘One Wabag’ philosophy.”

Va Tech Wabag is currently trading at Rs253.20 up by Rs5.8 or 2.34% from its previous closing of Rs247.40 on the BSE. The scrip opened at Rs253.95 and has touched intraday high and low of Rs257.50 and Rs249.20 respectively.