While investors of stocks like SBI, Adani, and Reliance are worried due to the fall of more than 800 points in the Sensex, the shares of VA Tech Wabag are flying.
Share of VA Tech Wabag(NSE: WABAG) jumped eight percent in early trade on September 6 after receiving an order of Rs 2,700 crore from the Saudi Water Authority.
Share of VA Tech Wabag has gained more than 173 percent in the last year, while the NSE Nifty 50 index has gained 30 percent during the same period.
The contract comes on an engineering procurement, construction, and commissioning (EPCC) basis for a 300 million liters per day huge seawater reverse osmosis desalination plant in Yanbu, Saudi Arabia.
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How The Order Was Secured
Wabag’s impressive track record and technically superior proposal were instrumental in winning this prestigious order, the firm said in a filing with the exchanges.
The plant is to be completed within 30 months.
The plant will be built with state-of-the-art desalination technology, designed for improved energy efficiency, and will produce the best quality water while complying with Saudi Arabia’s environmental regulations, the company said.
VA Tech Wabag has a presence in Saudi Arabia, where it has been building and operating wastewater treatment plants for over 4 decades. Since 1995 the company has constructed more than 60 desalination facilities across 17 countries for different industries and municipalities, significantly improving water security.
Order Will Contribute To Saudi Vision 2030
Rohan Mittal, Head of Strategy & Business Development, GCC, said, We are extremely honored and proud to receive this mega order from the prestigious customer SWA which will contribute to the ambitious Saudi Vision 2030.
This huge order is a testimony to our knowledge and dedication to providing high-quality, sustainable water solutions worldwide.
Quick Fact
Company name | VA Tech Wabag
| Company name | VA Tech Wabag |
|---|---|
| Latest order | ₹2,700 crore |
| Order source | Saudi Water Authority (SWA) |
| Plant capacity | 300 million liters per day |
| Project type | EPCC |
| Project location | Yanbu, Saudi Arabia |
| Technology used | Seawater reverse osmosis |
| Energy feature | Improved energy efficiency |
| Compliance | Saudi environmental regulations |
| Time to complete | 30 months |
| Market growth | 173% in 1 year |
| Market index | Nifty 50 gained 30% in 1 year |
| Key customer | SWA |
| Number of plants | 60 across 17 countries |
| Vision support | Saudi Vision 2030 |
| Years in region | 40+ years |
| Core expertise | Desalination and wastewater treatment |
| Key person | Rohan Mittal, Head of Strategy & Business Development, GCC |
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