VA Tech Wabag Ltd. informed the exchanges on Friday, December 27, that it has won an order worth €78 million or nearly ₹700 crore from the Lusaka Water Supply and Sanitation Company in Zambia.
With this order, the company has further expanded its presence in the African continent.
The order is funded multi-laterally by the European Investment Bank and the Kreditanstalt fur Wiederaufbau (KfW) of Germany.
VA Tech Wabag will foray into Zambia post this order win.
As per this order, VA Tech Wabag will execute the Engineering, Procurement and Construction (EPC) of two advanced wastewater treatment plants with capacities of 54 Megaliters Per Day and 19 Megaliters Per Day (MLD) respectively, located in the Zambian cities of Ngwerere and Chunga.
The EPC phase will be spread across 36 months, followed by 24 months of Operation & Maintenance for sustainable performance and efficiency.
VA Tech Wabag said that this will be one of Zambia’s largest and most advanced sanitation projects in recent decades.
“WABAG’s successful track record in delivering world-class water and wastewater treatment projects, combined with its technically superior and competitive bid, played a pivotal role in securing this landmark contract in Zambia’s dynamic market,” the company said in a statement.
Shares of VA Tech Wabag had ended 1.2% lower on Thursday. The stock has risen close to 150% so far in 2024.
Content retrieved from: https://www.cnbctv18.com/market/va-tech-wabag-share-price-zambia-order-win-700-crore-lusaka-water-sanitation-19530363.htm.
