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Shares of water treatment and desalination solutions provider VA Tech Wabag Ltd. soared as much as 11 percent on Monday after the company announced that its European subsidiary has bagged a repeat order worth Rs 260 crore in Romania.

The stock's surge in early trading on Monday took it to a fresh 52-week high of Rs 372.

The company stated that its European subsidiary, WABAG Water Services SRL, Romania, has secured a repeat order worth about Rs 260 Crores (EUR 30 million) from Purolite SRL towards upgrading the industrial wastewater treatment plant in Romania.

The contract will be an engineering and procurement scope contract which includes design & engineering, equipment supply, installation, commissioning and start-up of the Purolite Victoria WWTP.

The project is supposed to be executed over a 24-month period, the filing stated.

The existing plant, located in Victoria, Brasov County, was designed to treat 5,820 cubic metres of wastewater per day generated from resin production.

Purolite has planned to increase the production, which means an increased flow of wastewater.

The upgrade will include additional pre-treatment, extension of existing lamella clarifiers and new Reverse Osmosis stage, in order to treat the effluent up to national NTPA001 discharge criteria.

VA Tech Wabag last month had announced that it would raise Rs 200 crore through an issue of non-convertible debentures (NCDs) in one or more tranches/series to Asian Development Bank (ADB).

VA Tech Wabag offers turnkey solutions for water and wastewater treatment to municipal and industrial segments in India and abroad. The company is present in North Africa, the Middle East, China and Europe.

Shares of VA Tech Wabag are trading 9.2 percent higher at Rs 365.