Va Tech jumps on new order
In the morning trades, VA Tech Wabag was the top gainer on the BSE at Rs.833, up almost 4.5%. It has come off that level and slid off the top gainers list too but remains strongly in the green. It is currently up 3% at Rs.811. Its 52-week high stands at Rs.970.
The company announced today morning that, along with its JV partner, Belhasa Projects, it has won an EPC order in the waste and water management space in the Kingdom of Bahrain. This is for a sewage treatment plant and is valued at over Rs.580 crore.
The order is for Al Madina Al Shamaliya, the new town being developed in Bahrain and is being funded by Abu Dhabi Fund for Economic Development (ADFD). Wabag will design & build the 40MLD Al Madina Al Shamaliya Sewage Treatment Plant for Ministry of Housing Bahrain.
This is the first EPC order in Bahrain for Va Tech Wabag.