VA Tech wins $40 million contract to expand in Africa

VA Tech Wabag Ltd. (VATW), the biggest maker of water-treatment plants in India, won a $40 million contract in Tanzania to expand in Africa.

The company will build a 130 million-liter (34 million-gallon) a day plant at Upper Ruvu, it said today in a statement. The Exim Bank of India-funded project is the Chennai-based company’s first in sub-Saharan Africa.

VA Tech rose 1.3 percent to 555.95 rupees in Mumbai trading. Its shares are almost unchanged over the past year compared with a 9 percent gain by the 20-member Bloomberg World Water Index.

Bloomberg