Sunday, July 14, 2024

Ticker Tape May 2024

Ticker Tape – International May 2024

VA TECH WABAG (‘WABAG’), a leading pure-play water technology Indian Multinational Group, solidifies its leading position in Tunisia by securing a repeat order from Office National De L’assainissement (ONAS). The consortium order entails Design, Build, Operate (‘DBO’), towards a 36 MLD Wastewater Treatment Plant (WTP) valued at 114.22 Million Tunisian Dinars (approx. Euro 34 Million), located at Sousse Hamdoun II, Tunisia.

WABAG’s excellent track-record with ONAS spanning three decades, coupled with a technically superior and competitive bid, were instrumental in securing this repeat order win, thereby strengthening WABAG’s foothold in the North African region.

The project, funded by the French Development Agency (AFD), the European Investment Bank (BEI) and the European Union (EU) will be executed over a period of twenty-four (24) months followed by a twelve (12) months Operation & Maintenance period.

The scope of WABAG under this order will be Engineering & Procurement (‘EP’) and Operation & Maintenance (Rs. O&M’), which is worth about half of the consortium order value. This includes Design, Engineering, Supply, Installation and Commissioning of the plant followed by a One Year O&M phase.

The project will be spearheaded by WABAG as the leader of the Consortium, with Entreprise Gloulou Mohamed et Salem (EGMS) serving as the consortium partner responsible for all Civil Works associated with the project.

Commenting on this order win, Habib Derouich, CEO – Wabag Tunisia, said, “We express our gratitude to ONAS for their continued trust and confidence in WABAG.

With this repeat order won amidst strong global competition, Wabag further strengthens its market leadership in Tunisia and the North African region.”

Wipro Hydraulics, the hydraulic cylinders and components manufacturing business of Wipro Infrastructure Engineering, announced it has entered into a definitive agreement to acquire Mailhot Industries, a Novacap portfolio company, headquartered in Quebec, Canada, subject to customary closing conditions including regulatory approvals. Established in 1956, Mailhot Industries has become a North American leader in hydraulic cylinder manufacturing. Mailhot Industries specializes in the refuse trucks and snow removal equipment market and is known for the reliability of their products in demanding work environments. The acquisition also includes JARP Industries, a part of Mailhot Industries and a leader in custom hydraulic and remanufactured cylinders for segments including utilities, mining, defense, and oil & gas.

Commenting on the acquisition, Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) & Managing Director, Wipro Enterprises, said “Wipro Hydraulics stands as one of the world’s largest independent hydraulic cylinder manufacturers, delivering over one million cylinders to OEMs globally. This acquisition marks a pivotal moment for us, further bolstering our market position by integrating new technologies and expanding our global footprint. This strategic move will complement our capabilities and strengthen our leadership position in the North American market.”

Charles Massicotte, President, Mailhot Industries, said “The expertise and reputation of Mailhot in the North American Hydraulic Cylinder market combined with Wipro’s globally recognized leadership in manufacturing and technology will broaden Mailhot’s offerings in North America and open new international markets for existing products. We are convinced that by partnering with Wipro, Mailhot is destined to become an even bigger player in the global hydraulic cylinder market and reinforce its leadership position in North America. We are proud to be part of such a recognized global company, it is a new day for Mailhot, and it is looking bright!”

Sitaram Ganeshan, President, Wipro Hydraulics, said “With this acquisition of Mailhot, we will expand our footprint to Canada, the US, and Mexico, as well as penetrate new segments like refuse trucks, snow removal equipment, defense, and remanufacturing in North America. This also allows us to increase our capabilities in existing segments such as utilities and mining, positioning us to serve our customers better. Together, we will have an increased presence and offer a wider portfolio of products and technologies to our customers.”

Michel Toutant, Senior Partner, Novacap, said “It has been an honor to be part of this incredible growth journey with the entire management team. Wipro is the perfect partner to bolster Mailhot’s next phase of growth as it seeks to expand its foothold in North America. I look forward to seeing Mailhot continue to flourish under Wipro’s ownership.”

Welspun Corp Limited, a leading global line pipe manufacturer, has announced that it has secured multiple orders with a combined value of approximately Rs. 872 crores. These orders span both India and the United States.

A notable part of these orders is the supply of Concrete Coated Longitudinal Submerged Arc Welding (LSAW) Pipes and Bends for a major oil transportation project in the Middle East. These line pipes are intended for use in extreme sour service applications, underscoring Welspun Corp’s expertise in producing high-quality and durable pipes for challenging environments.

Welspun Corp has a proven track record of successfully executing demanding projects, which has established its reputation as one of the top line pipe manufacturers globally. The execution of these orders is scheduled for the 2025 fiscal year.

Adani Ports and Special Economic Zone Limited (APSEZ), India’s leading port operator, has set its sights on expanding its operations into the Philippines, with plans to invest in port development. The news came from a release issued by the office of the President of the Philippines. During a meeting at Malacañang, APSEZ Managing Director Karan Adani discussed the company’s plans with Philippines President Ferdinand Marcos Jr. The focus of their conversation was on Adani Group’s interest in Bataan for a new port development project. The proposed port would have a depth of 25 meters, designed to accommodate Panamax vessels.

“Your Excellency, as a private sector, what we always look for is stability—stability in regulation and stability in the environment in which we operate. That is what, you said, you are providing,” Adani told Marcos.

President Marcos welcomed the proposed investment and suggested that the port development focus on handling agricultural products, which would help boost the Philippines’ global competitiveness. He also emphasized the government’s commitment to developing gateways for tourism, business travel, and efficient transportation of agricultural goods.

APSEZ currently operates seven strategically located ports and terminals on India’s west coast and eight on its east coast. The company recently reported significant financial growth, with consolidated net profit for the fourth quarter ending March 31, 2024, jumping 76.87% to Rs. 2,014.77 crore compared to the previous fiscal year. Consolidated total income also rose to Rs 7,199.94 crore during the same period.

Despite an increase in total expenses to Rs. 4,450.52 crore, APSEZ’s net profit for the 2023-24 fiscal year surged by 50% to Rs. 8,103.99 crore. APSEZ continues to play a major role in India’s logistics sector, handling 27% of the country’s total cargo and 44% of its container cargo for the 2023-24 fiscal year. Additionally, ten ports in the company’s portfolio achieved record cargo volumes.

The expansion into the Philippines reflects APSEZ’s growing influence in the regional port and logistics industry. The proposed port development in Bataan could further strengthen trade links between India and the Philippines, fostering economic growth and enhancing regional connectivity.

Jyoti Structures Limited (JSL) has been pre-qualified by Kenya Transmission Company Limited (KETRACO) to bid for the 132 kV Narok-Bomet Transmission Line tender, which involves 88 kilometers of transmission line on a total turnkey basis.

KETRACO, funded by the African Development Bank, conducted a pre-qualification process to determine which EPC (Engineering, Procurement, and Construction) companies would be eligible to bid on this project. JSL’s selection is based on its experience in similar projects, including previous work in Kenya, and its comprehensive in-house capabilities and resources.

Securing pre-qualification for this tender marks JSL’s re-entry into international markets for turnkey projects. The bid submission deadline for the project is set for 25th April 2024, and KETRACO expects the successful bidder to complete the project within 12 months from the award.z

JSL has a proven track record in the industry, with a history of executing Transmission Line and Substation projects in Kenya and globally. The company has commissioned over 31,000 circuit kilometers of transmission lines up to 765 kV, 1,800 bays of substations, and electrified over 37,325 villages.

Va Tech WABAG (WABAG), a prominent figure in water technology solutions, has clinched a substantial repeat contract valued at approximately $49 million from Kathmandu Upatyaka Khanepani Ltd (KUKL).

The project, financed by the Asian Development Bank (ADB), encompasses the design, construction, and operation of three wastewater treatment plants (WWTP) in Nepal situated at Sallaghari, Kodku, and Dhobighat, aimed at treating an estimated 69 MLD (Million Liters per Day) of wastewater.

Emerging victorious in a rigorous international bidding process, WABAG anticipates completing the project within a two-year timeframe, followed by a subsequent five-year period dedicated to operation and maintenance (O&M).

According to a statement released by the company, these advanced plants are poised to curtail the inflow of untreated wastewater into Nepal’s vital Bagmati, Manohara, and Hanumante rivers, heralding a significant improvement in water quality and the broader ecosystem.

A key highlight of the project involves the generation of biogas through activated sludge treatment, facilitating the production of renewable energy. This green energy will be internally harnessed to power the WWTPs, thereby slashing greenhouse gas (GHG) emissions and optimizing operational costs.

Expressing confidence in WABAG’s technical prowess and execution capabilities, Arvind Dullu, Regional Business Head – SAARC and South East Asia, Va Tech WABAG, remarked, “This repeat order is a testament to the trust that the customer has placed in our technical & execution expertise.” Dullu further emphasized that this significant contract reinforces WABAG’s position in Nepal and the broader South Asian region.

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