Water tech major Wabag secures Rs 85 crore order for Oman desalination plant
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Water technology major Va Tech Wabag on Tuesday said it has secured an order worth around Rs 85 crore from Nama Water Services in Oman for the operation and maintenance of the Al Duqm desalination plant for five years.
Chennai-headquartered Wabag constructed the desalination plant over 10 years ago and was responsible for the operation and maintenance (O&M) until 2018.
"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,” said Subramaniam M, sales and business development director - GCC.
The company said in a regulatory filing that the water produced from this plant will be used for domestic consumption in the Duqm and Haima areas of Al Wusta Governorate.
“We thank Nama Water Services for their continued confidence in our capabilities and technical competence, which has been key to winning this repeat order,” said Subramaniam.
Being a pure-play water technology multinational, Wabag offers a complete range of technologies and services for water solutions in both municipal and industrial sectors.
It has over 1,600 water professionals spread over 25 countries in 4 continents.
According to the company, it has built over 1,400 municipal and industrial plants in various geographies across the globe over the last three decades.
