Va Tech Wabag wins $48 mln order from Saudi Arabia

Va Tech Wabag on Monday said it secured $48 million contract for sewage treatment plant at New Jeddah Airport, Kingdom of Saudi Arabia.

Va Tech Wabag has secured $48 million (approximately Rs 360 crore) order to execute the 300 million litres per day Jeddah Airport 2 Independent Sewage Treatment Plant (ISTP) project at Jeddah, Kingdom of Saudi Arabia. This is a repeat order for the company in the Kingdom of Saudi Arabia secured through Saudi Services for Electro Mechanical Works Company (SSEM).

The plant will be designed to treat 300 million litres per day , expandable to 500 million litres per day of waste water treatment. The firm will be responsible for process design, engineering, procurement of process equipment including process control instruments, supervision, commissioning and demonstration of process guarantees.

On a consolidated basis, Va Tech Wabag's net profit tumbled 25.3% to Rs 30.47 crore on a 15.6% rise in net sales to Rs 785.06 crore in Q4 FY20 over Q4 FY19.

Shares of Va Tech Wabag were down 0.75% to Rs 197.40. The scrip has surged 170.41% from its 52-week low of Rs 73 hit on 7 April 2020.

VA Tech Wabag designs and builds water and sewage treatment plants. The company constructs sewage treatment, processed and drinking water treatment, effluents treatment, sludge treatment, desalination and reuse plants. It serves municipalities and customers in the power, steel, and oil and gas industries.

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