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VA Tech Wabag Shares Tumble After Packing Repeat Order Contracts

Shares of VA Tech Wabag jumped 10% after a subsidiary won an order worth Rs 260 crore.

Shares of wastewater treatment company VA Tech Wabag hit a 52-week high on December 12 after the company announced that its European subsidiary had secured a repeat order contract worth Rs 260 crore (€30 million) from Purolite S.R.L to upgrade its industrial wastewater Processing plant (WWTP) located in Romania.

The stock was up 10.91% at Rs 370.70 after touching a 52-week high of Rs 374.90 on the BSE at 12:10 pm.

The contract procured by WABAG Romania, the European subsidiary of VA Tech Wabag, is an engineering and procurement scope contract. The agreement includes the design and engineering, equipment supply, installation, commissioning and start-up of Purolite Victoria WWTP. The company said in a BSE filing that the project is scheduled to be executed within 24 months.

“We are very proud to have secured this important industrial order, and we are grateful for the trust placed in us by Purolite. We have already built a sewage treatment plant for Purolite, and this repeat order is a good testament to our customer’s trust in our capabilities. “Wabag Romania specialises in the design and construction of industrial water plants, and this project will be another important reference for us,” said Erwin Moetz, CEO of Wabag Romania.

VA Tech Wabag Ltd is an Indian MNC headquartered in Chennai, India. According to the company website, the company was founded in Breslau in 1924 and focused on desalination and water treatment for municipal and industrial users.

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