VA Tech Wabag wins order worth Rs 360 crore in Kingdom of Saudi Arabia

VA Tech Wabag Limited has secured an order to execute 300 million litres per day (MLD) Jeddah Airport 2 independent sewage treatment plant (ISTP) project at Jeddah, Kingdom of Saudi Arabia worth USD 48 million i.e. approximately Rs 360 crore. The plant will be designed to treat 300 MLD, expandable to 500 MLD of wastewater treatment.

This is a repeat order for the company in the Kingdom of Saudi Arabia secured through Saudi Services for Electro-Mechanical Works Company (SSEM).

The plant will be built with state-of-the-art NEREDA technology for the first time in the region, a sustainable and cost-effective wastewater treatment technology that purifies water using the unique features of aerobic granular biomass. The company will be responsible for the design, engineering, procurement of process equipment including process control instruments, supervision, commissioning, and demonstration of process guarantees.

This project will further help the company to expand its growing footprint in the Middle East region.

By the end of FY20, the company’s order book stood at around Rs 11,000 crore, providing 3x revenue visibility that included projects with multi-lateral funding, marquee customers & innovative solutions. Of the total order book, 70 per cent orders came from the engineering, procurement & construction (EPC) segment and the remaining 30 per cent came from operation & maintenance (O&M) segment.

On Monday, the stock of VA Tech Wabag opened flat at Rs 198.90 on BSE. During the morning session, it was trading at a consolidated level between Rs 196.20 and Rs 202.30.