VA Tech Wabag is doing well today morning. Opening at Rs.342.90 from its close of yesterday at Rs.336.70, the stock rose to an intraday high at Rs.345. Its 52-week high is at Rs.404.25 and 20% UC at Rs.404.
The stock rose on news that it has won an order worth $11.45 million from Dialog E&C Sdn. Bhd., Malaysia towards establishing a new Effluent Treatment Plant (`ETP') for Pengerang Integrated Complex in Johor, Malaysia.
WABAG shall be the Technology vendor and provide Design, Engineering, Procurement and Supervision activities for the proposed ETP. WABAG shall design the ETP comprising of two-stage biological treatment, advance oxidation process, ammonia stripper and drier facility for sludge treatment. WABAG was amongst the few technology partners approved by PRPC for this project, based on its global reference in Oil & Gas segment.
WABAG has previously executed a $200 million state-of-the-art Integrated ETP for Pengerang Integrated Complex which ensures reduction of contaminants below regulatory discharge requirements.
This order further consolidates its position as a pure play water technology player in the Oil & Gas segment and in South East Asian market.