VA Tech hits 5% UC

Within moments of opening for trade, VA Tech Wabag hit the 5% UC today at Rs.81.90, with almost 15,000 pending buy orders.

The company announced yesterday night that it has secured an order worth Rs.90 crore from Ministry of Works, Municipalities Affairs and Urban Planning (‘MoW’) in Kingdom of Bahrain.

This is for Operation, Maintenance and Management of the Madinat Salman Sewage Treatment Plant (‘STP’) and Long Sea Outfall for a period of 5 years.

This is a repeat order. WABAG was awarded the EPC scope of the 40 MLD Sewage treatment plant and long sea outfall in Oct 2015 by Ministry of Housing, Kingdom of Bahrain to cater to a population of approx. 16,000 units.

The project was funded by Abu Dhabi Fund for Development and completed on 31st October 2018 post which WABAG has been operating and maintaining this plant since 1st of November 2018 till date for Ministry of Works.