VA Tech Wabag shares in focus after securing Rs 3,251 crore order in Saudi Arabia
VA Tech Wabag will be in focus on Monday after the water technology company announced winning a Rs 3,251 crore ($317 million) consortium order for the Al Haer Independent Sewage Treatment Plant (ISTP) in Riyadh, Saudi Arabia.
The company has won the engineering, procurement, and construction (EPC) order 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,» the company said.
Also Read: Stocks in news: Bajaj Auto, Nykaa, Grasim, LIC, Cipla, Hitachi Energy, Sun TV
This project's EPC consortium comprises Wabag and Mutlaq Al-Ghowairi Contracting Company. 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 constructing the reservoirs.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
