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Va Tech Wabag gains on bagging order in Malaysia

Capital Market 

Va Tech Wabag rose 1.98% to Rs 343.35 after the company secured an order worth $11.45 million in Malaysia for PETRONAS Refinery & Petrochemical Corporation (PRPC).

Va Tech Wabag , secured the order from Dialog E&C Sdn. Bhd., Malaysia towards establishing a new effluent treatment plant (ETP) for Pengerang Integrated Complex in Johor, Malaysia. It will be constructed for PRPC Utilities and Facilities Sdn Bhd ('PRPC UF'), a subsidiary of PRPC.

Wabag shall be the technology vendor and provide design, engineering, procurement and supervision activities for the proposed ETP. Wabag shall design the ETP comprising of two-stage biological treatment, advance oxidation process, ammonia stripper and drier facility for sludge treatment. Wabag was amongst the few technology partners approved by PRPC for this project, based on its global reference in oil & gas segment.

Va Tech Wabag has previously executed a $200 million state-of-the-art Integrated ETP for Pengerang Integrated Complex which ensures reduction of contaminants below regulatory discharge requirements.

Va Tech Wabag's consolidated net profit surged 189.1% to Rs 14.57 crore on a 52.7% jump in net sales to Rs 658 crore in Q1 FY21 over Q1 FY20. VA Tech Wabag designs and builds water and sewage treatment plants.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 06 2021. 10:50 IST