VA Tech Wabag jumps on securing consortium order worth $371 million
VA Tech Wabag is currently trading at Rs. 1397.00, up by 31.10 points or 2.28% from its previous closing of Rs. 1365.90 on the BSE.
The scrip opened at Rs. 1538.70 and has touched a high and low of Rs. 1550.00 and Rs. 1386.65 respectively. So far 67175 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1943.95 on 09-Dec-2024 and a 52 week low of Rs. 650.05 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1550.00 and Rs. 1291.00 respectively. The current market cap of the company is Rs. 8825.13 crore.
The promoters holding in the company stood at 19.13%, while Institutions and Non-Institutions held 20.88% and 59.99% respectively.
VA Tech Wabag has secured a significant consortium order worth $371 million (Rs 3,251 crore) from Al Haer Environmental Services Company towards Engineering, Procurement and Construction (EPC) 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.
WABAG, early this year secured Engineering and Procurement (EP) order of a 20 MLD Industrial Wastewater Treatment Plant (IWWTP) at Ras Tanura Refinery Complex, the Kingdom of Saudi Arabia, where Miahona Company is the project developer. WABAG’s excellent track record with Miahona Company and solid reputation in the Middle East spanning over four decades coupled with a technically superior proposal were key factors in securing this repeat order from Miahona Company Consortium. WABAG has been active in Saudi Arabia for decades, building and operating water and wastewater treatment plants. This new order further strengthens its portfolio in the region.
The EPC consortium for this project comprises of WABAG and Mutlaq Al-Ghowairi Contracting Company (MGC). 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 construction of 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 residents in the Kingdom.
VA Tech Wabag is an India-based company engaged in the business of water treatment field.
