WABAG secures 5 Year Operation & Maintenance contract of Al Duqm Desalination Plant in Oman

VA TECH WABAG ('WABAG'), a leading pure play water technology Indian Multinational Group has secured an order worth around 850 Million INR from Nama Water Services in the Sultanate of Oman towards Operation & Maintenance (O&M) of the Al Duqm Desalination Plant for a period of 5 years.

WABAG constructed this 8 MLD Desalination Plant over 10 years back and was responsible for the O&M of the Plant until 2018. This long term O&M order which has been won against international competition entails O&M of the Plant, the sea water intake and outfall systems. The water produced from this Plant will be used for domestic consumption in Duqm & Haima areas of Al Wusta Governorate.

Commenting on this order, Mr. Subramaniam M, Sales & Business Development Director - GCC said, "In line with our growth strategy, this new order addition in Oman, to our already strong O&M order book provides annuity income which helps us with improved cash flow and better revenue predictability. We thank Nama Water Services for their continued confidence in our capabilities and technical competence which has been key to winning this repeat order."

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 967.65 as compared to the previous close of Rs. 939.35. The total number of shares traded during the day was 43777 in over 2129 trades.

The stock hit an intraday high of Rs. 979.10 and intraday low of 924.35. The net turnover during the day was Rs. 41766773.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 OrderWin NamaWaterServices Oman AlDuqmDesalinationPlant