VA Tech Wabag shares upward thrust 6% on Rs 121 crore contract to run wastewater remedy plant in Bahrain
stocks of VA Tech Wabag are better with the aid of almost 6% in early alternate on january 29 after the enterprise announced a seven-12 months settlement worth Rs 121 crore to run a wastewater remedy plant in Bahrain.
The order from state of Bahrain's BAPCO Refining provides to VA Tech's operations and protection portfolio in the usa, in which it has a sewage remedy plant already walking on the grounds that november 2018.
VA Tech Wabag stated its "IWTP treats four,four hundred US gallons consistent with minute (USGPM) of Wastewater and is based on advanced Membrane Bioreactor (MBR) era."
stocks of VA Tech were in a downtrend seeing that mid-December 2024, after Saudi Arabia
cancelled tender
for a Rs 2,700 crore seawater desalination plant over 'inner administrative methods'. The order turned into on a engineering, procurement, creation & commissioning ('EPCC') foundation, for a 300 million litre according to day (MLD) mega sea water reverse osmosis desalination plant in the Yanbu region of Saudi Arabia.
The Saudi authorities later clarified that the
order was being 'recalibrated'
in size and scope, and a clean soft became to be floated again. VA Tech Wabag stated it will participate in the revised gentle from the Saudi Water Authority as soon as its floated. at the same time as the order cancellation led to an damaging marketplace reaction, it turned into no longer factored into the revenue projections of the organization.
The organization had set out a goal over Rs 16,000 crore order e-book by the quit of the fiscal, and at the stop of H1FY25, VA Tech's order e book function stood at Rs 14,500 crore. Globally due to the fact that 1995, VA Tech Wabag has built over 60 desalination plants in 17 nations, for various municipalities and industries.
The global business of VA Tech has remained strong with 54% of H1FY25 revenue from overseas initiatives, and international projects constitute 39% of the company's order backlog.
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