VA TECH WABAG soars after bagging contract worth $317 million from Saudi Water Authority

VA Tech Wabag jumped 5.15% to Rs 1356.95 after the company announced that it has bagged a mega order worth $317 million (approximately Rs 2,700 crore) from the Saudi Water Authority (SWA).

The SWA, formerly known as the Saline Water Conversion Corporation (the SWCC), is responsible for regulating and monitoring water sector business and services to enhance water sustainability and achieve the objectives of Saudi Arabias Vision 2030. The SWA is currently managing over 40 desalination plants producing over 11 Million cubic meters per day and over 139 ground and surface water purification stations producing over 4 Million cubic meters per day.

"WABAG's impressive track record and technologically superior proposal were critical in winning this prestigious order towards Engineering Procurement, Construction & Commissioning (EPCC) of a 300 Million Litre per Day (MLD) Mega Sea Water Reverse Osmosis (SWRO) Desalination Plant in Yanbu, Kingdom of Saudi Arabia (KSA), the company said in a statement.

It further stated that this EPCC contract includes the scope of design, engineering, supply, construction and commissioning of the 300 MLD Mega Desalination Plant which will be developed on a greenfield site located in the west coast of the KSA, south of the Red Sea-facing city Yanbu al-Bahr and is scheduled to be completed within a 30- month period.

This mega desalination plant will operate using dual media filters followed by a two-pass reverse osmosis process and re-mineralization to produce clean potable water, which will be further distributed by the SWA.

This plant will be built with the state-of-the-art Desalination technologies, designed for superior energy efficiency and will produce stellar quality of water complying with the environmental regulations of the KSA.

Rohan Mittal, head, strategy & business growth, GCC said: "We are extremely honoured and proud to secure this mega order from prestigious customer SWA, which will contribute to the ambitious Saudi Vision 2030.

This mega order is a testament to our expertise and commitment to delivering high-quality, sustainable water solutions worldwide."

VA TECH WABAG is a pure-play water technology company. It offers a complete range of technologies and services for total water solutions in both municipal and industrial sectors.

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