VA TECH WABAG bags 5.75-billion-rupee order vide Namami Gange project

CHENNAI | MUMBAI | RAJKOT – In a press release submitted to the Indian Bourses on Friday, Va Tech Wabag Ltd, a leading water technology company said, of having bagged orders vide Namami Gange project work amounting to 5.75 billion rupees (575 crore).

The project is awarded under the prestigious National Mission for Clean Ganga (‘NMCG’) Scheme to Design, Build, Rehabilitate and Operate Sewage Treatment Facilities and associated infrastructure in Kolkata, West Bengal.

The project will be executed on Public Private Partnership basis under the Hybrid Annuity Model (`HAM’).

WABAG will build the sewage treatment plants over a period of 24 months and further Operate & Maintain them over a period of 15 years.

The Design, Build, Rehabilitate and Operate contract from Kolkata Municipal Development Authority, funded by NMCG includes Engineering, Supply and Construction of new Sewage Treatment Plants, Renovation and Up-gradation of existing Sewage Treatment Plants, Rehabilitation of pumping stations and other associated infrastructure.

WABAG will build the plants using resource recovery from bio-sludge in line with India’s green power vision.

Commenting on this order, Mr. S Varadarajan, Whole-time Director and Chief Growth Officer said,

“We are delighted and proud to have secured our breakthrough HAM order under the prestigious Namami Gange Program and this win reinstates our commitment to ensure water security for the nation by partnering with the Government policies. Once completed, these plants will contribute to reducing the discharge of untreated sewage into the Holy Ganga from the state of West Bengal significantly.”

The Company’s press release had hit the exchanges in India, before the trading session started for Friday, resulting a spike in opening prices of the company shares and shares continued trading on positive counters in green zone.