VA Tech Wabag soars on securing order worth around Rs 2,700 crore from Saudi Water Authority
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
VA Tech Wabag is currently trading at Rs. 1333.00, up by 42.55 points or 3.30% from its previous closing of Rs. 1290.45 on the BSE.
The scrip opened at Rs. 1374.00 and has touched a high and low of Rs. 1390.25 and Rs. 1331.80 respectively. So far 38755 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1420.00 on 20-Aug-2024 and a 52 week low of Rs. 436.35 on 12-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1309.40 and Rs. 1240.15 respectively. The current market cap of the company is Rs. 8345.96 crore.
The promoters holding in the company stood at 19.13%, while Institutions and Non-Institutions held 16.51% and 64.36% respectively.
VA Tech Wabag (WABAG) has secured mega order worth around Rs 2,700 crore from the Saudi Water Authority (SWA). 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 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 Arabia’s 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.
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.
VA Tech Wabag is an India-based company engaged in the business of water treatment field.
