WABAG shares jump 6% following the announcement of a prestigious $14 million (~INR 121 crore) contract with BAPCO Refining B.S.C (BAPCO). As of 9:54 AM, the shares were trading 6.49% higher at Rs 1,292.40.
As per the filing, the contract involves the operation and maintenance (O&M) of Bahrain’s Industrial Wastewater Treatment Plant (IWTP) for the next seven years.
The advanced IWTP processes 4,400 US gallons per minute (USGPM) of wastewater using cutting-edge Membrane Bioreactor (MBR) technology, ensuring top-tier treatment efficiency that meets stringent environmental standards. This deal further strengthens WABAG’s O&M portfolio in Bahrain, following their successful management of the Madinat Salman Sewage Treatment Plant since 2018.
VA Tech Wabag shares opened at 1,243.00, reaching a high of 1,292.40 and a low of 1,233.30 today. Over the past 52 weeks, the stock has seen a high of 1,944.00 and a low of 615.00.
In the meantime, on January 1, VA TECH WABAG secured a major order worth INR 145 crores from Chennai Petroleum Corporation Limited (CPCL). The project involves the design, engineering, supply, installation, and commissioning of desalination water pipelines connecting CPCL’s Manali Refinery to the Kattupalli desalination plant. With a completion timeline of 12 months, WABAG’s efficient and cost-effective bid solidified its leadership in the industrial water sector.
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