VA TECH WABAG Ltd.’s shares were up by 2.26 per cent after the company secured an order worth approximately ₹80 crore from Nama Water Services in Oman. The contract involves the operation and maintenance (O&M) of the Al Duqm Desalination Plant for a five-year period.
The company said, Al Duqm Desalination Plant, which it constructed over a decade ago, holds a capacity of 8 million liters per day (MLD). The new contract includes managing the plant’s seawater intake and outfall systems. The water produced will serve the domestic needs of the Duqm and Haima areas in Al Wusta Governorate.
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.”
The shares were up by 2.26 per cent to ₹988 at 11AM on the BSE.