VA Tech in the limelight

VA Tech Wabag is most certainly on a great run. The stock is among the top gainers on the BSE today, in fact yesterday too, it was up and in these two days, it has gained 10%. Today, the stock hit an intra day high at Rs.198.95, a rise of 3%.

Under the Namami Gange project the company has signed a Rs 1,187-crore agreement.

The agreement was signed between National Mission for Clean Ganga (NMCG), Bihar Urban Infrastructure Development Corporation (BUIDCO) and DK Sewage Project (a special arm of Va Tech Wabag).

The project will be implemented by BUIDCO with financial assistance from the World Bank under NMCG.

The scope of the project includes the development of sewage treatment plants (STP) of 150 MLD capacity along with sewerage network of 450 km in the Digha and Kankarbagh zones of Patna, one of the most populous cities on the banks of river Ganga.

Wabag will also be responsible for the operation and maintenance of STPs and sewerage infrastructure for 15 years.

This scope comprises design, build and operate for Rs 940 crore and hybrid annuity worth Rs 247 crore, totalling to Rs 1,187 crore.