VA Tech Wabag: Saudi Water Authority cancels desalination tender worth about Rs 2,400 crore
Saudi Water Authority cancelled a Yanbu desalination tender worth about Rs 2,400 crore, VA Tech Wabag said in a filing, according to Moody's.
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what happened
India's VA Tech Wabag told exchanges on Saturday, November 14, that its customer, the Saudi Water Authority, had cancelled a major seawater desalination project at Yanbu. The contract was valued at about $272 million, or 1.019 billion Saudi riyals, roughly Rs 2,400 crore. The authority cited internal reasons on its side. All tender participants were informed through the Etimad government procurement platform.
The company plans to seek clarity from the authority on the reasons behind the decision and on next steps. This is the second such case: in December 2024 Saudi Arabia cancelled another 300 million litres per day desalination project. VA Tech Wabag shares fell 2% on Friday to close at Rs 2,040.10 on the BSE.
why it matters
For investors the cancellation is a reminder that Saudi public tenders can be reversed late in the process. Still, the scale should be weighed against the company's book: its order book has reportedly passed Rs 20,000 crore, and Q2 FY27 revenue was about Rs 1,000 crore. The key question is how quickly it can replace the lost project with new orders.
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- Rekha Jhunjhunwala stock VA Tech Wabag: Rs.2,400 cr Saudi project cancelled - Should you buy after 18% rise in 6 months? — Moody's, 14 November 2026 at 09:34 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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