Shares of VA Tech Wabag Ltd. surged 2% to touch a day’s high of Rs 1,331.90 on 24th December. This occurred after the company said it had been declared the preferred bidder for the Hadda ISTP project in Saudi Arabia.

The Saudi Water Partnership Company has declared a developer consortium as the preferred bidder for the Hadda Independent Sewage Treatment Plant (ISTP) project. This consortium comprises Metito Utilities Ltd., Etihad Water and Electricity Company PJSC, and SkyBridge Ltd. VA Tech Wabag has been named the preferred engineering, procurement, and construction (EPC) partner for the project.

The consortium will develop the project under a 25-year build–operate–transfer (BOT) model.

Wabag’s EPC scope includes the design, engineering, procurement, and construction of the treatment facilities. This includes a sewage treatment plant with an initial capacity of 100,000 cubic metres per day. The plant is expandable to 250,000 cubic metres per day. Additionally, the project includes an advanced treated sewage effluent reuse system, a large storage tank, and a 38 km transmission pipeline. The pipeline has a throughput capacity of 350,000 cubic metres per day.

The project’s commencement date has not yet been announced.

Commenting on the development, Rohan Mittal, Head of Strategy and Business Growth (GCC) at Wabag, said the selection strengthens the company’s presence in the Middle East. Furthermore, it reflects its growing partnership in Saudi Arabia.

At 11:13 AM, shares of VA Tech Wabag were trading 0.66% lower at Rs 1,285 on NSE.

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