VA Tech Wabag surges 3 per cent on winning multiple orders worth 100 million Euros in Europe & Africa

The leading pure-play water technology company, VA Tech Wabag announced on Wednesday that it has secured multiple orders worth about 100 million Euros in Switzerland, Tunisia & Libya.  

Wabag Swiss received its biggest-ever order of 26 million Euros for design & development of Lake Water Treatment Plant from Energie Service Biel/Bienne. The plant will be executed over 5 years and the company will deliver the electro-mechanical equipment for all treatment steps as well as the automation, starting with raw water intake up to the distribution pumps to the network of the municipalities.  

Besides, the company also won a project to build 30 MLD Water Treatment Plant at Kasseb Dam in Tunisia for an estimated contract value of 11 million Euros. It also signed a repeat contract with General Desalination Company of Libya (GDCOL) to design and build three thermal seawater desalination-multi-effect distillation (MED) plants in Bomba (Libya). This order is estimated to be worth 62 million Euros.   

Reacting to the news, the stock of VA Tech Wabag closed at Rs 206.80 per share, up by 3.09 per cent or 6.20 per share. The 52-week high is recorded at Rs 235 while its 52-week low is Rs 73 on BSE.