Shares of VA Tech Wabag skyrocketed 9% on 2 November after the company announced receiving a repeat order worth Rs 560 crores.

The company has received an order for consortium design, build, and operate repeat order from Societe Nationale D’exploitation Et De Distribution Des Eaux towards 345 million liters per day (MLD) Bejaoua Drinking Water Treatment Plant.

The project is funded by the European Investment Bank and the French Development Agency and has to be executed over a period of 30 months. The project also entails the operation and maintenance of the plan for a period of 12 months.
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The scope of Wabag under this order will be Engineering and Procurement, and Operation and Maintenance, which is worth about half of the consortium order value, includes design, engineering and supply of electromechanical equipment including modern and compact lamella clarifiers, installation and commissioning of the plant.

The project is to be executed with Wabag as the leader of the consortium, and Entreprise Gloulou Mohamed et Salem will be responsible for all civil works of the project.

At 1:05 pm, the shares of VA Tech Wabag were trading 5.38% above at Rs 503.55 on NSE.