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VA Tech Wabag gained 5 per cent in the early hours of trade today, thanks to Rs 175-crore order win for a sewage treatment plant in the Philippines.
The contract is for both EPC (engineering, procurement, construction) and operation and maintenance of the plant for a limited period. Incidentally, the company won a similar order from the Philippines for Rs 100 crore last month.
With order flows in India on a lull due to the ongoing economic slowdown, these overseas orders are a shot in the arm for the company.
In the last two quarters, overseas orders such as Al Gubrah project in Oman and the Dawasa and Izmir water treatment plants in Tanzania and Turkey, respectively have been major contributors to the company's revenue.
While the consolidated order book of Rs 5,239 crore at the end of September 2014 is almost equally in favour of domestic and international orders, VA Tech expects to close 2014-15 with 60:40 in favour of international orders.
Other key overseas contracts that may come in before the end of this fiscal include two orders - sewage treatment plant and delsalination from Libya worth about Rs 800 crore.
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