Shares of VA Tech Wabag Ltd, a global pioneer in water technology, skyrocketed 10% on Wednesday, 29 January, after the company announced securing a contract worth $14 million (Rs 121 crore) seven-year operations and maintenance contract for Bahrain’s BAPCO Refining B.S.C. industrial wastewater treatment facility.
VA Tech Wabag says the deal strengthens the company’s growing presence in the Middle East and reaffirms its leadership in the O&M sector.
The Industrial Wastewater Treatment Plant (IWTP) at BAPCO’s refinery in Bahrain provides enhanced treatment efficiency to meet the most stringent industrial and environmental demands thanks to its state-of-the-art Membrane Bioreactor (MBR) technology. The plant can treat 4,400 US gallons of industrial wastewater per minute (USGPM), according to VA Tech Wabag.
VA Tech Wabag now manages the operation and upkeep of the 40 MLD Madinat Salman Sewage Treatment Plant in Bahrain under a contract that has been in force since November 2018.
Srinivasan K, General Manager of WABAG’s Middle East Regional Headquarters, said, “This contract reflects our technological expertise and our ability to deliver world-class water solutions, especially within the oil and gas sector. We are grateful to BAPCO for their trust and confidence in our capabilities.”
Earlier this month, VA Tech Wabag announced that it had secured a Rs 145 crore order from Chennai Petroleum Corporation Ltd. (CPCL).
This order covered the design, engineering, supply, fabrication, installation, and commissioning of desalination water pipelines between the CPCL Manali Refinery and the CPCL desalination facility at Kattupalli. It is anticipated that the project will be completed within a year.
In December, the company also revealed that it had obtained a €78 million (about Rs 700 crore) order from Zambia’s Lusaka Water Supply and Sanitation Company.
At 1:21 pm, the shares of VA Tech Wabag were trading 8.75% higher at Rs 1,319.75 on NSE.
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