VA Tech Wabag share price: Water treatment company VA Tech Wabag share price zoomed as much as 8.21 per cent to hit an intraday high of Rs 1,312.10 apiece.
The uptick in the VA Tech Wabag share came after the company announced that it has secured an order worth about $14 million (approximately Rs 121 crore) from BAPCO Refining B.S.C (BAPCO) towards operation (O&M) of Industrial Wastewater Treatment Plant (IWTP) in the Kingdom of Bahrain, for a period of 7 years.
“This state-of-the-art IWTP treats 4,400 US gallons per minute (USGPM) of Wastewater and is based on advanced Membrane Bioreactor (MBR) technology, which ensures superior treatment efficiency, meeting stringent environmental and industrial standards,” VA Tech Wabag said, in a statement.
Notably, VA Tech Wabag is already performing the O&M of the 40 MLD Madinat Salman Sewage Treatment Plant in the Kingdom of Bahrain, since November 2018.
“We are extremely happy to secure this Industrial Wastewater treatment operations order in the Kingdom of Bahrain. We express our gratitude to BAPCO for their trust and confidence in WABAG. This order win is a testament to our technological excellence and our unwavering commitment to delivering world-class water solutions to the oil and gas sector globally,” said Srinivasan K, general manager of Middle East Regional Headquarters (RHQ).
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About VA Tech Wabag
VA Tech Wabag is a global leader in water treatment solutions, specialising in the design, supply, installation, and management of a wide range of water treatment plants.
The company offers advanced solutions for drinking water, wastewater, industrial water, and desalination plants, as well as sewage and industrial waste treatment. Its services also include water recycling to promote sustainability and resource conservation.
Operating in over 25 countries across regions such as India, South East Asia, the Middle East, Africa, Europe, and Latin America, the company has established a strong presence worldwide.
VA Tech Wabag has over 125 intellectual property rights and dedicated research and development (R&D) centres in both Europe and India.
Since its founding in 1924, the company has executed more than 6,500 municipal and industrial projects, solidifying its role in addressing global water challenges.
Last checked, the market capitalisation of VA Tech Wabag stood at Rs 8,123.62 crore, according to BSE. The company falls under the BSE SmallCap category.
At 11:50 AM, the VA Tech Wabag share was trading 7.74 per cent higher at Rs 1,306.25 apiece. In comparison, BSE Sensex was trading 0.68 per cent higher at 76,413.77 levels.