VA Tech Wabag shares soar 13% on securing Rs 3,251 crore Saudi Arabia order

Shares of VA Tech Wabag soared 13.5% to an intraday high of Rs 1,550 on the BSE on Monday after the water technology company announced winning a Rs 3,251 crore ($317 million) consortium order for the Al Haer Independent Sewage Treatment Plant (ISTP) in Riyadh, Saudi Arabia.

The company has won the engineering, procurement, and construction (EPC) order of a 200 MLD independent sewage treatment plant (ISTP), including connections to outfall delivery facilities.

"This ISTP is being developed by a consortium of Miahona Company (lead), Marafiq, and N.V. Besix S.A. for its off-taker, the Saudi Water Partnership Company (‘SWPC’). SWPC is the principal off-taker for water and wastewater projects in the Kingdom of Saudi Arabia," the company said.


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This project's EPC consortium comprises Wabag and Mutlaq Al-Ghowairi Contracting Company. Wabag as the Technology Partner and leader of the EPC Consortium will design and build the 200 MLD independent sewage treatment plant, while MGC will undertake the scope of laying the transmission pipelines and constructing the reservoirs.

This ISTP is part of the Kingdom’s Vision 2030, which aims to provide reliable sewage treatment services and improve the quality of life for its residents.

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Wabag secured the order of a 20 MLD industrial wastewater treatment plant at Ras Tanura Refinery Complex in the Kingdom of Saudi Arabia early this year. Miahona Company is the project developer.

Sivakumar V, Regional Head – of Sales and Marketing, VA Tech Wabag said, “This state-of-the-art technology order is a testament to our technological superiority and commitment to delivering high-quality solutions worldwide. This order win marks another significant milestone for us in Saudi Arabia and reinforces our leadership position in the Middle East Region.”

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