VA TECH WABAG surges after securing $14 million O&M contract from BAPCO

VA TECH WABAG jumped 5.78% to Rs 1282.50 after the company said that it has secured an operation contract worth $14 million (approximately Rs 121 crore) from BAPCO Refining B.S.C (BAPCO).

The contract is for undertaking the operation (O&M) of industrial wastewater treatment plant (IWTP) located in the Kingdom of Bahrain, for a period of 7 years.

This IWTP treats 4,400 US gallons per minute (USGPM) of wastewater and is based on advanced membrane bioreactor (MBR) technology.

With this order, WABAG further extends its O&M portfolio in the Kingdom of Bahrain. The company is already performing the O&M of the 40 MLD Madinat Salman Sewage Treatment Plant in the Kingdom of Bahrain, since November 2018.

Srinivasan K, general manager - Middle East Regional Headquarters (RHQ), said: 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.

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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