VA Tech goes "Dhaka, Dhaka!"
VA Tech Wabag is in the green, rising over 4.5% to an intraday high at Rs.335, on the back of good volumes. Its 52-week high is at Rs.374.90.
The stock is up after the company announced that it has won an order worth Rs.800 crore.
This order is from Dhaka Water Supply & Sewerage Authority (Dhaka WASA),Bangladesh. This is for Design, Build and Operate (DBO, for Reconstruction, Expansion and Operation of Pagla Sewage Treatment Plant (STP) with a capacity of 200 Million Litres per Day (MLD).
The order also includes Operation & Maintenance (O&M) for a period of 60 months. It has the potential to be expanded to 600 MLD in the future.
The project is funded by Multi-lateral Funding Agencies like World Bank and Asian Infrastructure Investment Bank (AIIB) under Dhaka Sanitation Improvement Project (DSIP).
This plant will operate based on Activated Sludge Treatment Process where it uses Green Fuel (Biogas) generated during the waste water treatment process producing Green Energy required for running the plant.