WABAG wins AFD, BEI and EU funded, consortium order from ONAS, worth 114.22 Million Tunisian Dinars

VA TECH WABAG ('WABAG'), a leading pure-play water technology Indian Multinational Group, solidifies its leading position in Tunisia by securing a repeat order from Office National De L'assainissement (ONAS). The consortium order entails Design, Build, Operate ('DBO'), towards a 36 MLD Wastewater Treatment Plant (WTP) valued at 114.22 Million Tunisian Dinars (approx. Euro 34 Million), located at Sousse Hamdoun II, Tunisia.

WABAG's excellent track-record with ONAS spanning three decades, coupled with a technically superior and competitive bid, were instrumental in securing this repeat order win, thereby strengthening WABAG's foothold in the North African region. The project, funded by the French Development Agency (AFD), the European Investment Bank (BEI) and the European Union (EU) will be executed over a period of twenty-four (24) months followed by a twelve (12) months Operation & Maintenance period.

The scope of WABAG under this order will be Engineering & Procurement ('EP') and Operation & Maintenance (`O&M'), which is worth about half of the consortium order value. This includes Design, Engineering, Supply, Installation and Commissioning of the plant followed by a One Year O&M phase.

The project will be spearheaded by WABAG as the leader of the Consortium, with Entreprise Gloulou Mohamed et Salem (EGMS) serving as the consortium partner responsible for all Civil Works associated with the project.

Commenting on this order win, Mr. Habib Derouich, CEO - Wabag Tunisia, said, "We express our gratitude to ONAS for their continued trust and confidence in WABAG. With this repeat order won amidst strong global competition, Wabag further strengthens its market leadership in Tunisia and the North African region."

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 900.25 as compared to the previous close of Rs. 930.15. The total number of shares traded during the day was 49686 in over 2713 trades.

The stock hit an intraday high of Rs. 963.35 and intraday low of 892.75. The net turnover during the day was Rs. 45863055.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 ONAS OrderWin Tunisia