Va Tech Wabag rallies after the company wins order worth about 146 million Euros in Senegal
The project shall be executed by WABAG in consortium with Toyota Tsusho Corporation (Toyota), Japan and Eiffage Génie Civil, France (Eiffage).
Va Tech Wabag Ltd, a company focused on water treatment for municipal and industrial users announced this morning that it has secured a new consortium order for a 50 MLD desalination project in Senegal (West Africa). This order is worth about 146 million Euros and marks the entry of WABAG into the new geography, Senegal.
The company has secured this order from Société Nationale Des Eaux du Sénégal (‘SONES’), the National Water Company of Senegal on Design, Build, Operate (‘DBO’) basis. With this order win, the company has further enhanced its global position in the desalination market.
The company’s project scope under this order comprises Engineering & Procurement (EP) and Operation & Maintenance (O&M), which is worth about one-third of the consortium order value. Under the EP scope of the project, the company shall undertake design, engineering and supply of electromechanical equipment, supervision of Installation and Commissioning followed by a 2-year O&M of the plant.
The project shall be executed by WABAG in consortium with Toyota Tsusho Corporation (Toyota), Japan and Eiffage Génie Civil, France (Eiffage). As per the press release, in this project, WABAG shall act as the Technology & System integrator, Eiffage will be responsible for the construction work whereas Toyota will co-manage the project.
This project is being funded by Japan International Cooperation Agency (JICA) with the aim to provide a safe and stable water supply to the people of Senegal by ensuring a highly sustainable water source.
Owing to this order win, the company’s share price has been rallying today. In the pre-opening session, the shares were trading higher by 4.63%. In the market hours today, the company's shares were trading Rs 260.7, an increase of 4.11% from the previous close. The company’s shares have a 52-week high & low of Rs 404.25 & Rs 223.65 on BSE.
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