The impacted Company is VA Tech Wabag.
The order pertains to the proposed 300 mega liters per day seawater desalination plant in Yanbu, Kingdom of Saudi Arabia.
VA Tech Wabag said the client notified tender participants this week that the said tender stands cancelled due to some internal administrative procedures. “We are currently in touch with the customer to understand and comprehend the reasons in detail,” it said.
Saudi Water Authority, formerly known as Saline Water Conversion Corporation (SWCC), manages over 15 million cubic meters of water, mainly in 40 desalination plants, and also some ground and surface water purification stations. The plant VA Tech Wabag was proposed to be engineered for exceptional water quality and power efficiency. It was scheduled for completion within 30 months.
VA Tech Wabag had won orders worth Rs 4,600 crore in H1. This included the Rs 2,700 crore order. “With over Rs 8,000 crores order inflow outlook already in sight for this financial year, we are on track to reach an order book position of over Rs 16,000 crores by the end of this fiscal year. Our order book position which stands today at over Rs 14,500 crore as of H1 with a healthy mix of 59 per cent EPC projects and 41 per cent O&M projects provides a robust revenue and growth visibility,” the company had said earlier.