VA Tech Wabag shares were up 6 percent to Rs 702.40 in the opening trade on February 5 after the company bagged an order for industrial wastewater treatment plant at Kingdom of Saudi Arabia.
The stock hit a 52-week high of Rs 729 on the BSE. "The company secured an order worth $33.5 million from SEPCO-III Electric Power Construction Corporation towards engineering and procurement of a 20 MLD industrial wastewater treatment plant (IWWTP) at Ras Tanura Refinery Complex, Kingdom of Saudi Arabia," the company said in a release.
This IWWTP, where Wabag is playing the role of process and technology contractor, is being constructed by SEPCO III and developed by Miahona, a leading PPP developer and operator of water and wastewater projects in the Kingdom of Saudi Arabia for its off-taker Saudi Aramco, the company said.
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The EP scope of work under this order includes design, engineering, procurement, supply and supervision of installation and commissioning of the IWWTP to treat a complex cocktail of effluents from the desalter effluent, tank farms and other oily wastewater sumps in the refinery.
This order is scheduled to be completed over 20 months, and will employ biological treatment followed by filtration and reverse osmosis technologies to treat the effluent partly towards reuse in the refinery.
The treatment scheme also includes Wet Air Oxidation for treatment of spent caustic effluent.
“This is another key breakthrough for us in the Kingdom of Saudi Arabia. This order which is being delivered to Miahona and Saudi Aramco is a further testimony of Wabag’s technology leadership in the Oil & Gas sector and enables us to further cement our presence in the Middle East Region," said Sivakumar V, regional head of sales and marketing at Va Tech Wabag.
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