Wabag wins Rs. 555 crore order in Qatar

The company bags EPC project from Qatari authority, which is its first major order in that country. The stock was buzzing in Wednesday's trade following this development. 

The project consists of design and build work for the public work's department of Qatar (ASHGHAL) worth Rs. 555 crore or 275 million Qatari Riyal. The scope of the order includes rehabilitation of Doha (South) Sewage Treatment Works to treat the additional sewage generated by the football stadium using lamella clarifier, disc filter and aerobic digester technology. The stadium is being constructed for the 2022 FIFA World Cup. The project is scheduled to be completed over a period of 24 months.

Va Tech Wabag Limited is an India-based multinational water engineering company. The company has offices in more than 20 countries including Central and Eastern Europe, Asia, North Africa, and the Middle East. The company engages in the planning, installation and maintenance of drinking and wastewater plants. It acts as systems specialist and full-service provider for government and the industry. 

On Wednesday, at 14:24 hours, the stock of Va Tech Wabag Limited was trading at Rs. 257.65 per share, up by Rs. 5.10 or 2.02 per cent. The stock opened at Rs. 256.65 per share and hit an intraday high of Rs. 280.00 and an intraday low of Rs. 252.85 per share.