VA Tech Wabag Ltd updates on AGCC Russia Project

VA Tech Wabag Ltd had secured an Engineering and Procurement ('EP') order from Amur Gas Chemical Complex LLC., ('AGCC') in Russia in August 2021. The project has been progressing well and based on the progress achieved, the Company has invoiced and collected USD 21.61 Million.

Considering the current geo-political uncertainty in the region, the customer has communicated a suspension of further activities of the said project. The company will continue to engage in discussions with the customer, to periodically evaluate the situation and await resumption of work.

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 299.40 as compared to the previous close of Rs. 304.45. The total number of shares traded during the day was 17683 in over 848 trades.

The stock hit an intraday high of Rs. 314.00 and intraday low of 295.45. The net turnover during the day was Rs. 5291357.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 ProjectUpdate Russia