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VA Tech WABAG to set up wastewater treatment plant in Tunisia; shares drop 4%
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
At 1.15 pm, VA Tech WABAG stock price quoted at ₹901.70, down 3.08% on the National Stock Exchange (NSE). The day’s low price was ₹892.85.
Shares of water treatment player VA Tech WABAG (NSE: WABAG) dropped more than 4% in trade on Tuesday, May 7. At 1.15 pm, VA Tech WABAG stock price quoted at ₹901.70, down 3.08% on the National Stock Exchange (NSE). The day’s low price was ₹892.85.
WABAG shares dropped despite the company informing exchanges that it has secured an order to set up a 36 million litres per day wastewater treatment plant in Tunisia, the company said on Tuesday.
The French Development Agency, the European Investment Bank and the European Union will fund the project to be headed by WABAG.
“WABAG wins an AFD, BEI and EU-funded consortium order from the Office National De L’Assainissement (ONAS), worth 114.22 million Tunisian dinars (approximately 34 million euros) for a 36 million litres per day wastewater treatment plant at Sousse Hamdoun II, Tunisia,” the Chennai-headquartered VA Tech WABAG said in a statement.
The consortium order entails the Design, Build, Operate of the wastewater treatment plant at Sousse Hamdoun II, Tunisia. The project would be executed over a period of 24 months.
The scope of the project under this order would be engineering and procurement, operation and maintenance. It also includes design, engineering, supply, installation and commissioning of the plant, the statement added.
Earlier in February this year, Va Tech had bagged $33.5 million order from SEPCO III Electric Power Construction Corporation for an industrial wastewater treatment plant at Ras Tanura Refinery project in Kingdom of Saudi Arabia.
VA Tech WABAG reported net sales of ₹704.40 crore in the October-December 2023 quarter (Q3FY24), which jumped 8.11% from ₹651.56 crore in the same quarter in the preceding year. VA Tech’s quarterly net profit in Q3 came in at ₹62.90, while EBITDA was at ₹102.60 crore.
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