VA Tech Wabag shares surge on the back of this CNBC-TV18 exclusive

VA Tech Wabag shares surge on the back of this CNBC-TV18 exclusive


Shares of VA Tech Wabag Ltd. gained nearly 4% on Thursday, April 16, after sources told CNBC-TV18 that the company has emerged as the lowest bidder for a sewage treatment plant (STP) contract worth over ₹600 crore in Saudi Arabia.

In another development, VA Tech Wabag is also the lowest bidder for a project in Kuwait valued at around ₹3,400 crore, where it has partnered in a joint venture with a US-based company.

CNBC-TV18 has reached out to the company for an official confirmation, and a response is awaited.

The order wins, if confirmed, would further strengthen the company’s already robust order book, which stood at ₹16,300 crore at the end of the December quarter (Q3).

Earlier in March, VA Tech Wabag secured a “large” international order from United Water Supply Company of Georgia LLC. As per the company’s classification, international orders in the $30-75 million range fall under the “large” category.

The contract involves the construction of a 19 million litres per day wastewater treatment plant (WWTP) in Kutaisi, Georgia, funded by the European Investment Bank. The facility can be scaled up to 56 MLD over time.

The recent developments highlight VA Tech Wabag’s continued momentum in the international water treatment space.

Shares of VA Tech Wabag Ltd were last trading 3.93% higher at ₹1,427.40. The stock has gained over 16% in the past one month.



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