VA Tech Wabag's shares on fire after bagging repeat order contract

Shares of wastewater treatment company VA Tech Wabag hit a 52-week high on December 12, after the company announced that its European subsidiary has bagged a repeat order contract worth Rs 260 crores (EUR 30 Million) from Purolite S.R.L to upgrade its Industrial Wastewater Treatment Plant (WWTP) in Romania.

After hitting a 52-week high of Rs 374.90 apiece on the BSE, at 12:10pm, the stock traded 10.91 percent higher at Rs 370.70.

The contract procured by VA Tech Wabag's European subsidiary WABAG Romania, is an Engineering & Procurement scope contract. The contract includes design & engineering, equipment supply, installation, commissioning, and start-up of the Purolite Victoria WWTP. The project is scheduled to be executed over 24 months, the company said in a BSE filing.

"It is a matter of extreme pride for us to have bagged this key industrial order and we thank Purolite for the confidence they have reposed in us. We have already built a waste water treatment plant for Purolite and this repeat order is indeed a great testament of the trust that the customer has, regarding our capability and competencies. Wabag Romania specializes in design and construction of industrial water plants and this project will be another marquee reference for us," Erwin Moetz, CEO – Wabag Romania said.