Polgahawela order propels WABAG’s order book to an all-time high. Over INR 5,000 crores of orders secured in FY 15-16.
Mar 21, 2016: WABAG has won record orders worth INR 5,000 Crores in FY 2016. This is the highest ever order intake clocked by the Group in a single financial year.
The Exim Bank of India funded Polgahawela Water Treatment Plant order has been brought into the Company’s Firm order book, following the signing of the loan agreement between the Water Board of Sri Lanka and Exim Bank of India earlier this month. The order is worth US$ 108 mn and is the second order secured from Sri Lanka by the Company through Buyers Credit, the first one being the Dambulla order, which is at an advanced stage of completion. The scope includes Design, Construction, Testing and Commissioning of an Integrated Water Supply Scheme for Polgahawela and adjoining areas.
Speaking on the development, Mr. Arvind Dullu, Country Head – Sri Lanka, said “I am happy that we have secured the second order in Sri Lanka with Buyers Credit of Exim Bank which reaffirms WABAG’s focus on funded orders across geographies.”
In September ’15, the Company secured an INR 1,500 Crore Effluent Treatment Plant order from PETRONAS in Malaysia which is progressing at a good pace. The Re-FEED engineering approval has been achieved and the procurement activities have already started for this project. The construction activities too at the site have begun.
On the INR 580 crore Al Madina Al Shamaliya Sewage Treatment Plant order, which was bagged by the Company during the month of July ‘15, the basic engineering has been approved by the client. In this project, the civil works have started and the ordering of key equipments is at an advanced stage. The INR 220 Crore RWTP order from Dangote Fertilizers in Nigeria is at an advanced stage of engineering and the ordering of supplies is progressing at a good pace.
Earlier during the month, the Company won its first major order from India in the current financial year. The order is worth INR 594 crore and is from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) for Construction and Operation & Maintenance (O&M) of a 45 MLD Water Reclamation Plant at Koyambedu, Chennai.
Commenting on this record order intake during the year, Mr. Rajiv Mittal, MD & Group CEO said, “I am happy that in a tough macro business environment, WABAG has won some quality orders and has recorded the highest ever order intake for the group this year. This was achieved through our diversified geographical presence with focus on emerging markets.”