VA Tech Wabag up 6% on securing order worth Rs 1,187 cr under Namami Gange

Shares of VA Tech Wabag rose as much as 6 per cent intra-day to trade at Rs 309 per share on the BSE after the company won order worth Rs 1,187 crore under Centre’s Namami Gange project.
 

“The company has secured a project worth Rs 1,187 crore from Bihar Urban Infrastructure Development Corporation (BUIDCO) under National Mission for Clean Ganga (NMCG) Scheme to develop Sewage Treatment Plants (STP) of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna,” VA Tech Wabag said in a regulatory filing at the BSE on Tuesday. READ BSE FILING HERE
 

The project comprises of a design, build and operate (DBO) scope worth Rs 940 crore and Hybrid Annuity scope worth around Rs 247 crore, it added.
 

The Chennai-based water treatment company will also be responsible for the operating and maintaining the STPs and the sewerage infrastructure for a period of 15 years which will be implemented by BUIDCO with financial assistance from the World Bank under the NMCG.
 

“WABAG will now be responsible for sewerage infrastructure in 4 out of the 6 zones of Patna, thus testifying the trust reposed by NMCG and BUIDCO on WABAG. The company is already executing projects for BUIDCO in Pahari and Karmalichak. All these projects, on completion, will ensure a cleaner and healthier ecosystem for over 50 per cent of the population of Patna,” Varadarajan S, Director and Chief Growth Officer, VA Tech Wabag said.

At 12:05 pm, the stock was trading 4.51 per cent higher at Rs 305 per share. In comparison, the benchmark S&P BSE Sensex was trading 0.09 per cent higher.