Shares of the pure-play water technology firm VA Tech Wabag were trading 1% higher on 13 August after the company announced securing a repeat order by the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), valued at around Rs 415 crore. 

The scope of the order is for the operation and maintenance of the 110 megaliter per day SWRO Desalination Plant at Nemmeli in Chennai for a period of seven years.

In its regulatory filing, the company said, “Wabag’s initial Operation & Maintenance contract was completed in 2021, after which the contract was extended by the customer and Wabag continued to operate and maintain the Plant.”

The company added that CMWSSB had floated a public tender for the Operation and Maintenance of the Plant, and the company secured this repeat order for Operating and Maintaining the Plant for another seven years.

Commissioned in 2013, the Nemmeli Desalination Plant is India’s first municipal desalination plant built on Design, Build, Operate (DBO) basis for drinking water purposes.

At 1:53 pm, the shares of VA Tech Wabag had shed all their early gains and were trading 0.35% lower at Rs 1,319.25 on NSE.

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