VA Tech Wabag stock cracks 16% as Saudia Arabia cancels Rs 2,700 crore order for seawater desalination plant

Over the past year, shares of VA Tech Wabag have jumped over 193 percent in trade.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Water treatment firm VA Tech Wabag shares tanked over 16 percent in the morning session on December 18, after announcing that the tender for Saudi Arabia’s 300 MLD mega seawater desalination plant, won by the company, has been cancelled due to internal administrative procedures.

The company had received an order worth $317 million (Rs 2,700 crore) from the Saudi Water Authority on September 6. The firm said it is currently in touch with the Saudi Water Authority to understand and comprehend the reasons in detail.

At 9.20 am, shares of the player were quoting Rs 1,586.5 on the NSE, lower by 15.8 percent compared to the previous close.

Follow our market blog to catch all the latest updates

On September 6, VA Tech Wabag shared it bagged the Rs 2,700 crore order.  The order was on a engineering, procurement, construction & commissioning (‘EPCC’) basis, for a 300 million litre per day (MLD) mega sea water reverse osmosis desalination plant in Yanbu, Saudi Arabia.

The desalination plant was scheduled to be completed within a 30-month period. "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 Saudi Arabia," the company had said.

VA Tech Wabag has had a presence in Saudi Arabia, building and operating water and waste-water treatment plants, for over 4 decades. Globally since 1995, the firm has constructed over 60 desalination plants in 17 countries, for various municipalities and industries, thereby significantly contributing to the cause of water security.

Over the past year, shares of VA Tech Wabag have jumped over 193 percent in trade, as against a 14 percent rise in the NSE Nifty 50 index during the same time period.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.