VA Tech Wabag share price rises nearly 3% on securing over ₹1,000 crore PPP order from CMWSSB

The stock rose as much as 2.71% to ₹1,285.9 apiece on the National Stock Exchange (NSE) in the early trade. At 9:20 am, it was up 0.10% to ₹1,253.2 apiece.

In an exchange filing, the company said the mega order, which is above ₹1,000 crore, is for the refurbishment, financing, operation, maintenance and transfer of a 45 MLD (million litres per day) tertiary treatment reverse osmosis plant in Chennai's Kodungaiyur area. It will be executed under the public-private partnership mode.

The Kodungaiyur TTRO plant, along with its associated distribution pipeline network, was developed by CMWSSB in 2019 to supply high-quality treated wastewater to industries in the Manali–Ennore and Manali–Minjur industrial corridors in Chennai. Under the new deal, VA Tech Wabag will refurbish and upgrade the existing TTRO facility to restore its full treatment capacity of 45 MLD within a period of 1.5 years.

After the refurbishment phase, the company will run and maintain the facility for 18.5 years, ensuring a reliable supply of treated water that meets the quantity and quality standards under the agreement.

S Varadarajan, the company's Whole Time Director and Chief Growth Officer, said, "This project further strengthens our leadership in the Indian water sector and reinforces our position at the forefront of water recycling and reuse, which will play a critical role in enabling sustainable industrial water management and supporting Chennai’s long-term water security."

VA Tech Wabag is already running the 45 MLD TTRO facility at Chennai's Koyambedu. It was designed, built, and commissioned by the company in 2019 to provide high-quality recycled water to industrial consumers.

The firm is also operating a 40 MLD Ghaziabad TTRO facility, supplying treated water to multiple industries in the Sahibabad Industrial Area.