VA Tech Wabag Ltd updates on 120 MLD sewage treatment plant at Kopri

The Board of Directors ("Board") of VA Tech Wabag Limited ("the Company") at their meeting held today i.e., Tuesday, May 07, 2024, has considered and approved the proposal to enter into and execute the Shareholders Agreement amongst VA Tech Wabag Limited (Listed Company); Kopri Bio Engineering Private Limited (Kopri Bio) and A K Electrical and Works Private Limited (AKEPL) to record the terms and conditions between the equity shareholders over the rights and responsibilities for execution of the project towards Design, Build, Finance, Operate and Transfer (DBFOT) in relation to developing, operating and maintaining (a) a 120 MLD sewage treatment plant at Kopri, Thane (East) and, (b) a power generation facility and tertiary treatment plant, for the sale of tertiary treated water of sewage treatment plant at Kopri, Thane (East), awarded by Thane Municipal Corporation on competitive bidding basis.

Kopri Bio is a Special Purpose Vehicle (SPV) formed for the purpose of Design, Build, Finance, Operate and Transfer (DBFOT) contract towards developing, operating and maintaining (a) a 120 MLD sewage treatment plant at Kopri, Thane (East) and, (b) a power generation facility and tertiary treatment plant, for the sale of tertiary treated water of sewage treatment plant at Kopri, Thane (East), awarded by Thane Municipal Corporation (TMC) on competitive bidding basis.

Currently Wabag holds 51% equity shareholding (i.e., 5100 Equity shares of face value of INR 10/- each) in Kopri Bio and AKEPL holds 49% equity shareholding (i.e., 4900 Equity shares of face value of INR 10/- each) in Kopri Bio.

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 Agreement 120MLD SewageTreatmentPlant Kopri ThaneWest