VA Tech Wabag said that it has secured an order worth around Rs 85 crore from Nama Water Services in the Sultanate of Oman towards operation & maintenance (O&M) of the Al Duqm Desalination Plant for a period of 5 years.
WABAG constructed this 8 MLD Desalination Plant over 10 years back and was responsible for the O&M of the plant until 2018. This long term O&M order which has been won against international competition entails O&M of the Plant, the sea water intake and outfall systems.
The water produced from this plant will be used for domestic consumption in Duqm & Haima areas of Al Wusta Governorate.
Subramaniam M, sales & business development director GCC said: In line with our growth strategy, this new order addition in Oman, to our already strong O&M order book provides annuity income which helps us with improved cash flow and better revenue predictability.
We thank Nama Water Services for their continued confidence in our capabilities and technical competence which has been key to winning this repeat order.
VA TECH WABAG is a pure-play water technology company. It offers a complete range of technologies and services for total water solutions in both municipal and industrial sectors.
The company's consolidated net profit rose 33.43% to Rs 62.90 crore on an 8.11% increase in revenue to Rs 704.40 crore in Q3 FY24 as compared with Q3 FY23.
The scrip shed 0.38% to currently trade at Rs 963.95 on the BSE.
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