VA TECH WABAG advanced 2.26% to Rs 951.20 after the company's consortium secured a repeat order from Office National De L'assainissement (ONAS), worth 114.22 million Tunisian Dinars (approximately Euro 34 million).
The consortium order entails design, build, operate (DBO), towards a 36 MLD wastewater treatment plant (WTP) located at Sousse Hamdoun II, Tunisia.
The project, funded by the French Development Agency (AFD), the European Investment Bank (BEI) and the European Union (EU) will be executed over a period of twenty-four months followed by a twelve months operation & maintenance period.
"WABAG's excellent track-record with ONAS spanning three decades, coupled with a technically superior and competitive bid, were instrumental in securing this repeat order win, thereby strengthening WABAG's foothold in the North African region, the company said in a statement.
The project will be spearheaded by WABAG as the leader of the consortium, with Entreprise Gloulou Mohamed et Salem (EGMS) serving as the consortium partner responsible for all civil works associated with the project.
The scope of WABAG under this order will be engineering & procurement (EP) and operation & maintenance (O&M), which is worth about half of the consortium order value. This includes design, engineering, supply, installation and commissioning of the plant followed by a one year O&M phase.
Habib Derouich, CEO Wabag Tunisia, said: We express our gratitude to ONAS for their continued trust and confidence in WABAG. With this repeat order won amidst strong global competition, Wabag further strengthens its market leadership in Tunisia and the North African region.
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.
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