VA Tech Wabag gains after signing concession agreement under Namami Gange programme

Source:-moneycontrol.com

The pact was signed recently between the National Mission for Clean Ganga, Kolkata Metropolitan Development Authority and senior officials from WABAG, a company release said

Shares of VA Tech Wabag gained 1.5 percent intra-day on June 6 after signing a concession agreement under the Namami Gange programme.

The stock was quoting at Rs 335.00, up Rs 1.15, or 0.34 percent, on the BSE at 15:12 hours IST.

The city-based water treatment player has signed a Rs 575-crore concession agreement under the Namami Gange programme, which integrates the efforts to clean and protect the Ganga in a comprehensive manner.

The pact was signed recently between the National Mission for Clean Ganga (NMCG), Kolkata Metropolitan Development Authority (KMDA) and senior officials from WABAG, the company said.

The scope of the contract includes engineering, supply and construction of new sewage treatment plants, renovation and upgradation of existing sewage treatment plants, rehabilitation of pumping stations in Bally, Arupara and Baranagar areas of Kolkata, it said.The recent order would help WABAG cumulatively purify over 100-crore litres of sewage every day, which used to get discharged in the Ganga and its tributaries.