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Va Tech Wabag share price jumps 13% on Bihar govt project

The scope of the project includes the development of sewage treatment plants (STP) of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, company said.

December 31, 2019 / 02:01 PM IST
 
 
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Shares of water engineering company Va Tech Wabag rallied 12.7 percent intraday on December 31 after the company was granted a project from Bihar government.

The pure-play water technology Indian multinational signed an agreement for Rs 1,187 crore under the prestigious Namami GangeProgramme, company said in its BSE filing.

The agreement was signed among National Mission for Clean Ganga (NMCG), Bihar Urban Infrastructure Development Corporation Ltd (BUIDCO) and DK Sewage Project Private Limited (A special arm of VA Tech Wabag), it added.

The scope of the project includes the development of sewage treatment plants (STP) of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, company said.

This scope comprises design, build and operate (DBO) for a value of Rs 940 crore and hybrid annuity worth around Rs 247 crore, totalling to Rs 1,187 crore, it added.

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Wabag said it would also be responsible for the operation and maintenance of the STPs and the sewerage infrastructure for a period of 15 years. The project will be implemented by BUIDCO with financial assistance from the World Bank under NMCG, it added.

With this repeat order in Bihar, Wabag said it would now be responsible for sewerage infrastructure in 4 out of the 6 zones of Patna.

The stock was quoting at Rs 184.35, up Rs 16.20, or 9.63 percent on the BSE at 1335 hours IST.
Moneycontrol News
first published: Dec 31, 2019 02:01 pm

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