VA Tech Wabag gains on back of Rs. 467 order

VA Tech Wabag has secured Rs. 467 crore order. The shares of the company are trading in green on Wednesday. 

The order has come from Mangalore Refinery and Petrochemicals (MRPL) towards engineering and construction of a 30 MLD Sea Water Desalination plant expandable upto 70 MLD in Mangaluru, Karnataka. The company will be held responsible for the design and the building contract which includes engineering, supply, erection, construction and commissioning of a 30 MLD Sea Water Desalination plant over a fixed period of 22 months. The company will build the plant using state-of-the-art technologies, including seawater reverse osmosis, brackish water reverse osmosis and ultra-filtration systems.

The project would also involve the company in cross-country piping of 11 kilometres to deliver the water to MRPL's refinery. The plant's purpose is to minimize the MRPL's freshwater dependency. Post successful commissioning, the company will also be awarded a contract towards Operation & Maintenance of the plant for a period of 10 years. 

VA Tech Wabag is engaged in the business of water treatment field. The company's principal activities include design, supply, installation, construction and operational management of drinking water, wastewater treatment, industrial water treatment and desalination plants. 

On Wednesday, the stock of VA Tech Wabag opened at Rs. 296.05 per share as against Tuesday’s close of Rs. 290 per share. At 12:37 hours, the shares were trading at Rs. 297 per share, up by 2.40 per cent. The stock's intraday high was Rs. 304.95 and intraday low was at Rs. 296.05 per share on the BSE. 
 Meanwhile, the BSE Sensex was at 36,451.40 level, up by 0.02 per cent.