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VA Tech Wabag Ltd has entered the Build-Own-Operate-Transfer segment in water projects through two partners for water treatment plants in Maharashtra.
It is in consortium with Konark Infrastructure for a treatment plant for Ulhas Nagar Municipal Corporation and with SPML Infra for a facility for Aurangabad Municipal Corporation.
The projects bagged in 2010-11 mark the entry of Wabag, which was previously in EPC and operation and maintenance segment, into BOOT projects. It expects the segment, representing large concession projects, to be an important growth area for the company along with public-private partnership projects.
Addressing shareholders at the company's annual general meeting, the first since its initial public offer, the Chairman, Mr B.D. Narang, said Wabag has also received a Rs 360 crore overseas order from Sri Lanka's National Water Supply and Drainage Board for Greater Dambulla Water Supply Scheme.
As on March 31, 2011, the company's order book was Rs 2,465 crore, up by about a third as compared with the order book size of Rs 1,878 crore on March 2010.
Urbanisation and industrial growth are driving the growth in water-related projects globally and the domestic market, where the annual business potential is estimated at about Rs 1.35 lakh crore, is growing at about 20-25 per cent.
The company has also entered into an alliance with Sumitomo, Japan, which will strengthen its opportunities in the large-scale BOOT projects.
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