Business

Va Tech Wabag resumes operations for Russia client

City-based Va Tech Wabag has resumed operations for its client in Russia, said a top official.

‘On Thursday, we received communication from Amur Gas Chemical Complex LLC (AGCC) to resume the services and works under the contract in the region,” said Rajiv Mittal, CMD and Group CEO in an interview.

“Pursuant to this resumption intimation, Wabag will have resumed the work with full resources to meet the project timelines. Due to the geopolitical situation, there was a stoppage of work for two-and-a-half months. Now, we have to sit and redraw the timelines,” he said.

During August 2021, the pure play water technology firm had secured a $165 million engineering and procurement order from AGCC in Russia for waste water management. The project was on track and based on the progress, Wabag had invoiced and collected $21.61 million. However, due to the ongoing geopolitical uncertainty, the project was suspended in the region from April 2022.

AGCC is a joint venture of SIBUR Holding Russia and China Petroleum & Chemical Corporation (Sinopec), China, it said in a release.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Aug 6, 2022 6:43:47 pm | https://www.thehindu.com/business/va-tech-wabag-resumes-operations-for-russia-client/article65589610.ece