In early trading on November 2, VA Tech Wabag’s share price experienced a 3% increase following the company’s announcement of a repeat order valued at approximately 215 million Tunisian Dinars (equivalent to 63 million euros or Rs 560 crore).
As of 09:18 hrs, VA Tech Wabag was trading at Rs 494.40, marking a gain of Rs 16.20 or 3.39% on the BSE.
The company successfully secured a repeat order for a consortium design, build, and operate (DBO) project for the 345 MLD Bejaoua Drinking Water Treatment Plant, awarded by Societe Nationale D’exploitation Et De Distribution Des Eaux (SONEDE). The project, financed by the French Development Agency (AFD) and the European Investment Bank (BEI), will be carried out over a 30-month period, followed by 12 months of plant operation and maintenance.
VA Tech Wabag’s scope of work under this order encompasses Engineering & Procurement (EP’) and Operation & Maintenance (`O&M’). Approximately half of the consortium order value is attributed to the EP’ and O&M services, which include the design, engineering, and supply of electromechanical equipment, including modern and compact lamella clarifiers, as well as the installation and commissioning of the plant, followed by a one-year O&M period.
The project will be executed with VA Tech Wabag as the leader of the consortium, with Entreprise Gloulou Mohamed et Salem (EGMS), the consortium partner, responsible for all civil works related to the project.
In October, the company entered into a partnership with Pani Energy Inc. to implement Applied Artificial Intelligence for treatment plants. This collaboration focuses on leveraging Pani’s platform, specifically the Operational Intelligence category delivered through their product Pani ZED, to optimize operational expenditures (OPEX) in the plants by reducing downtime, energy consumption, and chemical usage.
VA Tech Wabag has a board meeting scheduled for November 6, 2023, during which the unaudited financial performance of the company for the six-month period ending in September 2023 will be reviewed and authorized.
The company’s stock reached a 52-week high of Rs 544.80 and a 52-week low of Rs 262.05 on August 1, 2023, and November 1, 2022, respectively. Currently, the stock is trading 9.25% below its 52-week high and 88.67% above its 52-week low.
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