Shares of VA Tech Wabag Ltd fell 0.75% after touching a day’s high of Rs 1,307.20 on 29th December. This occurred despite the firm announcing that it has received a letter of award for a repeat ‘large’ order from the Saudi Water Authority.

VA Tech Wabag has secured an EPC contract to build a 50 million litres per day brackish water reverse osmosis (BWRO) plant at Aljouf, Saudi Arabia. The company said in an exchange filing that the project is classified as a “large” international order. It is valued between $30 million and $75 million and will be executed over 14 months.

The plant will treat raw water from borewell fields using advanced ceramic membrane pre-treatment. This will be followed by filtration and reverse osmosis to ensure a reliable and sustainable water supply. VA Tech Wabag has received a letter of award, with execution to begin upon contract signing.

Last week, the company was also named the preferred bidder for the Hadda ISTP project in Saudi Arabia.

At 10:28 AM, shares of VA Tech Wabag were trading 0.74% lower at Rs 1,276.50 on NSE.

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