Shares of VA Tech Wabag Ltd soared more than 6% on 27 December after the company announced securing an order worth Rs 700 crore (Euro 78 million) to design, build, and operate (DBO) from Lusaka Water Supply and Sanitation Company (LWSC), which was multilaterally funded by the Kreditanstalt für Wiederaufbau (KfW) of Germany and the European Investment Bank (EIB).
The company said in a statement issued on Friday that this order marks its entry into Zambia, expanding its presence in Africa and reaffirming its position as the continent’s top provider of water solutions.
Wabag has been hired to handle the engineering, procurement, and construction (EPC) of two advanced wastewater treatment plants (WWTPs) in Zambia: a 19 MLD WWTP and a 54 MLD WWTP, located at Ngwerere and Chunga.
The EPC phase will span 36 months, followed by 24 months of operation and maintenance (O&M) to ensure long-term performance and efficiency.
Wabag is a well-known company in the water industry with a century of experience in sustainability and water leadership. Wabag is a dedicated global provider of water technology, providing industrial and municipal sectors with comprehensive Total Water Solutions. Millions of lives are impacted every day by the organization, which employs more than 1,600 specialists in over 25 countries.
Over the past three decades, Wabag has constructed more than 1,400 water and wastewater plants worldwide, offering customized solutions based on its clients’ needs. Wabag is a full life-cycle partner that manages design, engineering, supplies, construction, installation, startup, and long-term operational management.
At 11:23 am, the shares of VA Tech Wabag were trading 2.59% higher at Rs 1,627.20 on NSE.
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