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Va Tech Wabag Wins Rs 800 Crore Project, Shares Soar

Va Tech Wabag share surges 5% after winning Rs 800 crore World Bank funding order.

Shares of Va Tech Wabag rose nearly 5% in morning trade on March 17 after the company said it had received an order of Rs 800 crore from the Dhaka Water and Sewerage Authority in Bangladesh.

In a press release to the media, the company said it had to design, build and operate (DBO) the 200 million litres per day (MLD) expansion of the Pagla Sewage Treatment Plant (STP) in Pagla, Dhaka.

Funded by multilateral agencies such as the World Bank and the Asian Infrastructure Investment Bank (AIIB), the project is part of the Dhaka Sanitation Improvement Project.

The project scope included design, engineering, supply, construction, installation and commissioning, and 60-month operations and maintenance (O&M).

The company said the project could be expanded to 600 MLD in the future, driven by growing demand in the city.

The plant will use an activated sludge treatment process, and green fuel (biogas) produced during wastewater treatment will be used to run the plant.

Va Tech Wabag shares were quoted at Rs 330.60 on the BSE at 9:25 am, up Rs 10.85, or 3.39%.

The stock hit a 52-week high of Rs 374.90 on December 12, 2022, and a 52-week low of Rs 220 on June 17, 2022.

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