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The Philippine subsidiary of VA Tech Wabag has bagged a ₹175-crore order to set up a sewage treatment plant at Valenzuela, the Philippines.
According to information provided by the company on the BSE, it will design and build 60 million litres a day sewage treatment plant for Maynilad Water Services. Wabag will maintain the facility for one year as part of performance assurance. The project is funded by the World Bank.
The Philippines has emerged a major market for the Chennai-based multinational water and wastewater treatment company, which has executed three projects in Bagbag, Tatalon and Dona Imelda and is implementing two large projects at Illugin, where it is setting up a 100 mld plant, and Putatan.
The release quoting Coleridge Shelley, Director – Wabag, the Philippines, said the company has an order backlog of ₹ 450 crore.
Rajiv Mittal, Managing Director, Wabag, told BusinessLine , the company’s decision to enter the Philippines three years ago has been ‘timely and is paying off.’ The market is opening out with water sector being privatised.
Maynilad Water is one of the two private utilities, the other being Manila Water. Water projects are being funded by multilateral funding agencies such as the World Bank, ADB and JICA. After the initial focus on water supply, the country is strengthening sewage treatment infrastructure, he said. More such projects are in the pipeline and Wabag sees significant potential, Mittal said.
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