Rekha Jhunjhunwala-backed Multibagger Company Secures Euro 78 Million DBO Contract in Zambia for Wastewater Treatment Plants, Funded by EIB & KFW!
The company’s shares have delivered an impressive multibagger return of over 160 per cent in just 1 year.
Va Tech Wabag a prominent Indian multinational specializing in water technology, has secured a significant Design, Build & Operate (DBO) contract worth approximately Euro 78 million from Lusaka Water Supply and Sanitation Company (LWSC) in Zambia. The European Investment Bank (EIB) and Germany's Kreditanstalt für Wiederaufbau (KfW) funded the project. This achievement marks WABAG’s entry into Zambia, bolstering its leadership and expanding its footprint across Africa as a comprehensive water solutions provider.
Under this contract, WABAG will deliver Engineering, Procurement, and Construction (EPC) services for two state-of-the-art Wastewater Treatment Plants (WWTPs) in Ngwerere and Chunga, with capacities of 54 MLD and 19 MLD, respectively. The EPC phase will be completed over 36 months, followed by a 24-month Operation & Maintenance (O&M) period to ensure optimal performance and sustainability.
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The WWTPs will meet most of their energy requirements through green energy sources, utilizing biogas and solar power. WABAG’s extensive expertise in executing high-quality water and wastewater treatment projects, technical proficiency, and competitive bid was instrumental in securing this prestigious contract, further solidifying its presence in Africa’s growing market.
Currently, the shares of Va Tech Wabag Ltd are trading at around Rs 1647 per share on the BSE. The company’s current market capitalization stands at Rs 10,241 crore. Additionally, the shares have delivered an impressive multibagger return of over 160 per cent in the past 1 year.
Rekha Jhunjhunwala owns around 8.04 per cent stake in the company as per Q1 FY25.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.