VA Tech Wabag wins orders worth ₹2,700 crore from the Saudi Water Authority, stock up 4%

The SWA is responsible for regulating and monitoring water sector business and services to enhance water sustainability and achieve the objectives of Saudi Arabia’s Vision 2030. It currently manages over 40 desalination plants producing over 11 million cubic metres per day and over 139 ground and surface water purification stations producing over 4 million cubic metres per day.

The company said that the engineering procurement, construction and commissioning (EPCC) contract includes the scope of design, engineering, supply, construction and commissioning of the 300 million litre per day (MLD) mega desalination plant. It will be developed on a greenfield site located in the west coast of Saudi Arabia, south of the Red Sea-facing city Yanbu al-Bahr. The project is scheduled to be completed within a 30-month period.

VA Tech Wabag said the 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 Saudi Arabia,” the firm said.

The company has had presence in Saudi Arabia for over four decades, building and operating water and waste-water treatment plants. Since 1995, WABAG has constructed over 60 desalination plants in 17 countries, for various municipalities and industries.

Last month, the company said it has secured a repeat order worth about ₹415 crore from the Chennai Metropolitan Water Supply and Sewage Board (CMWSSB) towards operation and maintenance of 110 MLD SWRO desalination plant at Nemmeli in Chennai for a period of 7 years.

Shares of the company have gained over 111% since the beginning of the year. The stock has risen nearly 174% in the last one year.