On June 7, Va Tech Wabag’s share price rose 3% in early trade as the company saved an order worth Rs 420 crore. The share price moved to a 52-week high of Rs 493.95 per share.

Va Tech Wabag bagged an order for the design, build, and operation (DBO) of a water treatment plant (VVTP) with a volume of 270 million litres per day (MLD) at Jite, Raigad for the City and Industrial Development Corporation of Maharashtra Limited (CIDCO).

This project was planned to cater to the upcoming water demand for Navi Mumbai, Maharashtra. Water from the Hetwane dam will be preserved at the proposed 270 MLD WTP and pumped to the current Master Balancing Reservoir (MBR) at the Vihal location for enhanced distribution, the company stated.

The project scope comprises design, engineering, supply, construction, installation, and commissioning of WTP counting clear water pumping station within a minimum of 42 months (3 years 6 months) from the beginning, followed by operation & maintenance (O&M) for 15 years.

The company said the plant would practice high-rate clarifiers to eliminate high-suspended solids tracked by rapid gravity sand filters and chlorine cleansing.

The CEO, Shailesh Kumar, mentioned the importance and strategic success to be received from the project, foraying back to DBO space in Maharashtra with this advance order in CIDCO. This won project was tough competition grounded by technical superiority and competitiveness. Once accomplished, this project will address the area’s increasing water need, being a key reference in our journey.

At 9:22 am, Va Tech Wabag traded Rs 491.45, up Rs 11.80, or 2.46% on the BSE.