VA TECH WABAG edges higher after bagging contract worth Rs 700 crore in Zambia

VA TECH WABAG added 3.53% to Rs 1640.20 after the company announced that it has received an order worth euro 78 million (approximately Rs 700 crore) from Lusaka Water Supply and Sanitation Company (LWSC).

LWSC is a multi-laterally funded by the European Investment Bank (EIB) and the Kreditanstalt f Wiederaufbau (KfW) of Germany.

This strategic win marks WABAGs entry into Zambia, further strengthening its presence in Africa and reinforcing its role as a comprehensive water solutions provider in the continent, the company said in a statement.

Under this DBO contract, WABAG will execute the engineering, procurement, and construction (EPC) of two advanced wastewater treatment plants (WWTPs) a 54 MLD WWTP and a 19 MLD WWTP located in Ngwerere and Chunga, Zambia.

The EPC phase will span 36 months, followed by 24 months of operation & maintenance (O&M) to ensure sustainable performance and efficiency.

Majority of the energy needs of the WWTPs will be sustainably met through green energy sources, utilizing a combination of biogas and solar power.

Guhan Kandasamy, head - sales & marketing (Africa), said: We extend our heartfelt gratitude to LWSC for their confidence in WABAG to deliver one of Zambias largest and most advanced sanitation projects in the recent decades.

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 increased 17.25% to Rs 70.60 crore on 5.30% rise in revenue from operations to Rs 700.30 crore in Q2 FY25 over Q2 FY24.

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