VA Tech Wins Tanzania Water Contract to Expand in Africa

Jan. 10 (Bloomberg) -- VA Tech Wabag Ltd., 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.

To contact the reporter on this story: Karthikeyan Sundaram in New Delhi at kmeenakshisu@bloomberg.net

To contact the editors responsible for this story: Randall Hackley at rhackley@bloomberg.net; Niveditha Ravi at nravi2@bloomberg.net