Latest news with #LetterofAward
Time of India
5 hours ago
- Business
- Time of India
VA Tech WABAG bags Rs 2,332 cr deal for mega desalination plant in Saudi Arabia
Water treatment company VA Tech WABAG Ltd received a Letter of Award for the construction of a seawater desalination plant valued at USD 272 million (approximately Rs 2,332 crore) in Saudi Arabia , a company official said on Thursday. The city-based company has secured the contract for the 300 MLD (million litres per day) mega seawater desalination plant, which will be set up by the Saudi Water Authority in Yanbu, Kingdom of Saudi Arabia. Explore courses from Top Institutes in Please select course: Select a Course Category CXO Cybersecurity Data Science healthcare Data Science Leadership PGDM Operations Management others Data Analytics Project Management Management Others Design Thinking Digital Marketing MBA Healthcare MCA Product Management Degree Artificial Intelligence Finance Public Policy Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details In a press release on Thursday, Rohan Mittal , Head of Strategy and Business Growth for the Gulf Cooperation Council at WABAG, said, "We are immensely proud to have emerged successful in this prestigious project. This underscores the strength of our technical competence, competitiveness, and our deep-rooted capabilities in executing large and complex desalination projects." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This might be relevant for you Undo "This prestigious project aligns with and contributes to the ambitious goals of Saudi Vision 2030 and reinforces WABAG's global leadership in the desalination sector," he added. The project includes the design, engineering, supply, construction, and commissioning of the desalination plant, which will be developed on a greenfield site along the west coast of Saudi Arabia, the company said.
News18
6 hours ago
- Business
- News18
VA Tech WABAG bags Rs 2,332 cr deal for mega desalination plant in Saudi Arabia
Agency: Chennai, Jul 24 (PTI) Water treatment company VA Tech WABAG Ltd received a Letter of Award for the construction of a seawater desalination plant valued at USD 272 million (approximately Rs 2,332 crore) in Saudi Arabia, a company official said on Thursday. The city-based company has secured the contract for the 300 MLD (million litres per day) mega seawater desalination plant, which will be set up by the Saudi Water Authority in Yanbu, Kingdom of Saudi Arabia. In a press release on Thursday, Rohan Mittal, Head of Strategy and Business Growth for the Gulf Cooperation Council at WABAG, said, 'We are immensely proud to have emerged successful in this prestigious project. This underscores the strength of our technical competence, competitiveness, and our deep-rooted capabilities in executing large and complex desalination projects." 'This prestigious project aligns with and contributes to the ambitious goals of Saudi Vision 2030 and reinforces WABAG's global leadership in the desalination sector," he added. The project includes the design, engineering, supply, construction, and commissioning of the desalination plant, which will be developed on a greenfield site along the west coast of Saudi Arabia, the company said. PTI VIJ SSK VIJ SSK KH Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
10 hours ago
- Business
- Business Standard
VA Tech Wabag gains 5% on ₹2,332-cr order win from Saudi Water Authority
VA Tech share price: VA Tech Wabag (VA Tech) shares were in demand on Thursday, July 24, 2025, with the stock rallying up to 4.90 per cent to hit an intraday high of ₹1,670.50 per share. At 11:30 AM, VA Tech share price continued to trade higher, up 0.37 per cent at ₹1,598.20. In comparison, BSE Sensex was trading 0.50 per cent lower at 82,311.43 levels. What is the reason behind the rally in VA Tech share price today? VA Tech Wabag shares rallied after the company secured a major order worth ₹2,332 crore from the Saudi Water Authority for setting up a 300 Million Litres per Day (MLD) Sea Water Reverse Osmosis (SWRO) Mega Desalination Plant at Yanbu, Saudi Arabia. The project will be executed on a greenfield site along Saudi Arabia's west coast and includes the complete scope of design, engineering, supply, construction, and commissioning of the plant. VA Tech has received the Letter of Award, and contractual formalities are underway. The company will announce the effective start date for execution post signing of the contract. Rohan Mittal, head of strategy and business growth for GCC at VA Tech, said, 'We are immensely proud to have emerged successful in this prestigious project not just once, but twice. This repeat success underscores the strength of our technical competence, competitiveness and our deep-rooted capabilities in executing large and complex desalination projects. This prestigious project, aligns with and contributes to the ambitious goals of Saudi Vision 2030 and reinforces Wabag's global leadership in the desalination sector.' VA Tech Q4 results VA Tech's consolidated revenue from operations surged 15 per cent Y-o-Y to ₹3,294 crore, while its profit after tax (PAT) rose 20 per cent annually to ₹295.3 crore. The consolidated Ebitda stood at ₹430.2 crore. In standalone terms, revenue from operations rose 15 per cent Y-o-Y to ₹2,873.8 crore, while PAT zoomed 15 per cent Y-o-Y to ₹2,71.3 crore. The standalone Ebitda was ₹402.9 crore. VA Tech dividend VA Tech Board of Directors had recommended a final dividend of ₹4 per equity share of face value ₹2 each (200 per cent) for FY25. About VA Tech VA Tech is a leading Indian multinational specialising in total water management solutions. The company offers end-to-end services including design, supply, installation, construction, and operation of water and wastewater treatment plants. Wabag's expertise spans across drinking water, municipal and industrial wastewater, industrial process water, and desalination systems. In addition to technical solutions, WABAG also delivers projects under BOOT (Build-Own-Operate-Transfer) and EPC (Engineering, Procurement, and Construction) models, making it a full-spectrum player in the water infrastructure space. With a strong focus on sustainability and innovation, WABAG has established a major global footprint, operating in key regions such as India, South East Asia, the Middle East, Africa, Europe, and Latin America.
Business Standard
3 days ago
- Business
- Business Standard
Reliance Power reports turnaround Q1 PAT to Rs 45 cr
Reliance Power posted a consolidated net profit of Rs 44.68 crore for the first quarter of FY26, marking a sharp turnaround from a net loss of Rs 97.85 crore in the same period last year. Despite the improved profitability, revenue from operations declined 5.35% year-on-year to Rs 1,885.58 crore for the quarter ended 30 June 2025. Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs 565 crore in Q1 FY26. The company also reported a profit before tax of Rs 72.30 crore in Q1 FY26, compared to a pre-tax loss of Rs 73.33 crore in Q1 FY25. Reliance Power reported total debt servicing of Rs 584 crore in the first quarter of FY26. The companys debt-to-equity ratio remains among the lowest in the industry. As of the end of the quarter, the companys net worth stood at Rs 16,431 crore. On the operational front, the companys flagship 3,960 MW Sasan Ultra Mega Power Project in Madhya Pradesh was among the top-performing plants in the country, achieving a plant load factor (PLF) of approximately 91%. The 1,200 MW Rosa Power Plant in Uttar Pradesh reported availability of around 97% during the quarter. In a significant development in the renewable energy segment, Reliance Powers subsidiary, Reliance NuEnergy, received a Letter of Award (LoA) from SJVN a leading Navratna public sector enterprisefor Indias largest ISTS-connected solar-plus-battery energy storage system (BESS) project. The 350 MW project will include the installation of 600 MW of solar DC capacity and a 175 MW / 700 MWh BESS at a tariff of Rs 3.33/kWh, awarded through a competitive bidding process. With this project, Reliance Power has emerged as Indias largest player in the solar-plus-BESS segment, boasting a portfolio of 2.4 GW of solar DC capacity and over 2.5 GWh of BESS capacity, cementing its leadership in the new energy landscape. Reliance Power has been established to develop, construct, and operate power projects both in India and internationally. The company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation and in capacity under development. The scrip shed 0.30% to Rs 63.89 on the BSE.
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Business Standard
3 days ago
- Business
- Business Standard
Ircon International share price increases 4% on multiple deal wins; details
Ircon International share: Ircon International share was buzzing in trade on Monday, July 21, 2025, with the stock rallying up to 4.30 per cent to hit an intraday high of ₹195 per share. Around 1:10 PM, Ircon International share price was trading 2.01 per cent higher at ₹190.70 per share. In comparison, BSE Sensex was trading 0.40 per cent higher at 82,084.18 levels. Why were Ircon International shares buzzing in trade today? Ircon International share price was in focus today after the company announced securing multiple infrastructure project contracts. Firstly, Ircon International Limited received a Letter of Award (LoA) from Rail Vikas Nigam Limited (RVNL) for an infrastructure project in Madhya Pradesh. The contract has been awarded to a joint venture (JV) between IRCON (70 per cent share) and JPWPL (30 per cent share). The scope of the work includes the construction of roadbed, minor bridges, buildings, and installation of track (excluding the supply of rails, sleepers, and thick web switches), along with electrical, signaling, and telecommunication (S&T) works. These civil engineering and general electrical works will be carried out in connection with the new broad gauge (BG) railway line between Pipariya (Km 82100) and Budni (Km 180000), under the Bhopal Division of the West Central Railway in Madhya Pradesh. The contract is classified as a domestic item rate contract, and the total duration for execution is 36 months, along with a 6-month defect liability period. The total contract value is ₹755.78 crore, out of which IRCON's share amounts to ₹529.04 crore. Secondly, Mumbai Metropolitan Region Development Authority (MMRDA) has awarded a contract to Ircon International for the execution of works related to the Mumbai Metro Line 5 (Package-2). The scope of the contract involves detailed design, manufacturing, supply, installation, integration, testing, and commissioning of the 220 kV receiving substation, including 220 kV, 33 kV, and 25 kV cabling work. Additionally, the project covers a 25 kV overhead catenary system (OCS) along with switching stations, auxiliary substations (ASS), and complete SCADA system integration. The awarded contract also includes electrical and mechanical works, lift and escalator works for parts of the main line, stations, and the Kasheli Depot. The total duration for the contract execution is 108 weeks, followed by 2 years of Defect Liability and Maintenance Period (DLMP), and an additional 5 years of comprehensive maintenance thereafter. The contract has been awarded as a domestic work contract, and its total value stands at ₹471.29 crore, inclusive of taxes. Lastly, Ircon International has been awarded a contract by the Mumbai Metropolitan Region Development Authority (MMRDA) for the execution of key systems works under Mumbai Metro Line 5. The awarded contract pertains to CA-233, Line-5, Package-2, and includes the design, manufacture, supply, installation, integration, testing, and commissioning of the power supply and traction system. It also covers lift and escalator works, along with 2 years of Defect Liability Maintenance and 5 years of Comprehensive Maintenance. The scope of work includes Electrical and Electromechanical (E&M) works, as well as systems for the Electrical and Electromechanical Interface (EEEI) of the Mumbai Metro Rail Project of MMRDA. The total contract value is ₹642.44 crore, excluding taxes. The project is expected to be executed over a period of 104 weeks, followed by 2 years of Defect Liability Maintenance and 5 years of Comprehensive Maintenance after the completion of the defect liability period. About Ircon International Established in 1976 under the Indian Companies Act 1956 by Indian Railways, Ircon International Limited (Ircon) is an engineering and construction corporation specialising in transport infrastructure. The company specialises in turnkey construction services, including railways (new lines, rehabilitation/conversion, stations, bridges, tunnels, signalling, electrification, and locomotive leasing), highways, EHV sub-station projects, and metro rail systems. Over the years, it has diversified into various segments of transport and infrastructure development. The market capitalisation of Ircon International is ₹18,043.7 crore, according to BSE. The company falls under the BSE 500 index category.
