WABAG secures an 18 Million Euros EP order in Kingisepp, Russia from South Korea Based DL E&C LTD
The project will employ softening, Ultrafiltration and Reverse Osmosis technologies to treat brine water which will be reused as process water in the facility.
VA TECH WABAG (‘WABAG’), a leading pure-play water technology Indian Multinational Group, secured an Engineering and Procurement (‘EP’) order worth about 18 Million Euros (about Rs 149 Crore) from DL E&C CO., LTD., Korea, towards a Water treatment package for the EuroChem Methanol Production facility in Kingisepp, Russia.
WABAG’s scope includes Design, Engineering and Supply, Installation, Pre-Commissioning, Commissioning and start-up of the plant and is scheduled to be completed over a 15 month period. The project will employ softening, Ultrafiltration and Reverse Osmosis technologies to treat brine water which will be reused as process water in the facility. This order includes adequate payment securities which de-risks us from the geo political uncertainties.
Commenting on this order win, Mr. Pankaj Sachdeva, CEO – India Cluster said, “While being vigilant about the Geo political situation, we remain positive about the Russian Federation as a market opportunity and this order is a further testament of the same. WABAG further strengthens its position in the industrial wastewater segment with this order. This order was secured through joint efforts of Wabag India and Wabag Romania, demonstrating our ‘One Wabag’ philosophy.”
WABAG is a global leader in the water industry backed by rich experience spanning over 98 years. Being a pure-play water technology multinational, WABAG offers a complete range of technologies and services for Total Water Solutions in both Municipal and Industrial sectors.
On Wednesday, the share of VA Tech Wabag surged more than 2.3 per cent in the first half of the trading session trading at Rs 253 per share.