VA Tech Wabag jumps over 5%
VA Tech Wabag, a pure play water technology company has secured Rs.467 crore worth order from Mangalore Refinery and Petrochemicals Limited ('MRPL') towards engineering and construction of a 30 MLD Sea Water Desalination plant expandable upto 70 MLD in Mangaluru, Karnataka.
The scope of this Design and Build contract includes engineering, supply, erection, construction and commissioning of a 30 MLD Sea Water Desalination plant over a period of 22 months.
Wabag will build the plant using state of the art technologies, including sea water reverse osmosis, brackish water reverse osmosis and ultrafiltration systems.
The project also includes cross-country piping of 11 Kilometers to deliver the water to MRPL's refinery. The plant aims to minimize the fresh water dependency of MRPL once completed.
Post successful commissioning, WABAG will also be awarded a contract towards Operation & Maintenance of the plant for a period of 10 years.
The market is happy with this announcement from the company and the stock price has reacted accordingly, going up over 5% to Rs.304.95.
The company is scheduled to declare its results on 8th Feb.