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The agreement outlines governance, management, and control terms for the SPV, with VA Tech Wabag and Peak Sustainability expected to hold an economic interest of up to 50% each. Both parties will also have equal representation through nominee directors on the SPV board.
The agreement includes a three-year lock-in period, restrictions on share transfer without mutual consent, and right of first refusal. The company clarified that no conflict of interest arises and that the arrangement is in the ordinary course of business.
VA Tech Wabag is a global water technology company that provides engineering, supply and construction solutions for municipal and industrial water and wastewater treatment projects.
The company's consolidated net profit jumped 30.63% to Rs 91.70 crore on a 18.53% rise in revenue to Rs 961.30 crore in Q3 FY26 as compared with Q3 FY25.
Va Tech Wabag secured a ‘Large' order from Bharat Petroleum Corporation (BPCL) towards Advanced Technology Water Treatment Facilities for the Bina Petchem and Refinery Expansion Project at Bina, Madhya Pradesh, India. According to the company's order classification, the value of the order ranges between Rs 250 crore to Rs 600 crore.
The order comprises a comprehensive Water Block Package, including a Raw Water Treatment Plant (RWTP), a Reverse Osmosis based Demineralization Plant (RODMP), and a Zero Liquid Discharge Plant (ZLDP) for the BPCL Bina Refinery. WABAG will undertake the Design, Engineering, Procurement, Construction, Installation, Testing, and Commissioning (EPC) of facilities. The project is scheduled to be executed over a period of 22 months.
The order falls under the ‘Large’ category domestically, valued between Rs 250–600 crore.
The order covers a comprehensive Water Block Package, including a Raw Water Treatment Plant (RWTP), a Reverse Osmosis-based Demineralization Plant (RODMP), and a Zero Liquid Discharge Plant (ZLDP) for the BPCL Bina refinery.
WABAG will undertake the design, engineering, procurement, construction, installation, testing, and commissioning (EPC) of the facilities. The project is expected to be completed over a 22-month period.
Commenting on the development, S Natrajan, Head – Sales & Marketing, India Cluster, said, 'We are delighted to receive this ‘Large’ industrial water treatment order, including a ZLD solution from BPCL, and sincerely thank them for the confidence reposed in WABAG’s technological expertise and execution capabilities. This award further reinforces WABAG’s leadership position in the Oil & Gas sector and underscores our strong track record in delivering complex, technology-intensive water projects. We remain fully committed to executing this state-of-the-art project to the highest standards of quality, reliability, and operational performance.'
Va Tech Wabag is engaged in the business of the water treatment field. Its principal activities include design, supply, installation, construction, and operational management of drinking water, wastewater treatment, industrial water treatment, and desalination plants. The company reported standalone net profit surged 22.05% to Rs 70.3 crore on a 12.51% rise in revenue from operations to Rs 690 crore in Q2 FY26 over Q2 FY25.
Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining crude oil and marketing petroleum products. The company reported a 168.74% jump in standalone net profit to Rs 6,442.53 crore in Q2 FY26 as against Rs 2,397.23 crore posted in Q2 FY25. Net sales (excluding excise duty) rose 2.09% year-on-year (YoY) to Rs 1,04,912.47 crore in the September 2025 quarter.
Shares of Bharat Petroleum Corporation rose 0.28% to Rs 359.65 on the BSE.
Va Tech Wabag (WABAG) secured a Letter of Award for a ‘Large' repeat order from Saudi Water Authority (SWA), towards Engineering, Procurement and Construction (EPC) of the Advanced Technology Brackish Water Reverse Osmosis (BWRO) Plant with a capacity of 50 Million Litre per Day (‘MLD'), at Aljouf in the Kingdom of Saudi Arabia. According to the company's order classification, the value of the 'Large' order ranges between Rs 250 crore to Rs 600 crore.
WABAG will Design, Supply, Construct, and Commission this 50 MLD BWRO plant over fourteen (14) months with state-of-the-art technology, where the facility will treat raw water supplied from bore well fields which contains rare elements, requiring a robust pre-treatment using Ceramic Membrane technology followed by Micron Cartridge Filtration and Reverse Osmosis, to ensure long-term reliability and sustainable water supply for the region. We have received the Letter of Award and contracting formalities will commence now. Post signing the contract, the effective date for commencement of execution will be announced.
Under the order, Wabag will design, supply, construct and commission the BWRO plant within 14 months. The facility will treat raw water sourced from borewell fields containing rare elements and will feature a robust pre-treatment system using ceramic membrane technology, followed by micron cartridge filtration and reverse osmosis to ensure long-term reliability and sustainable water supply for the region.
The company said it has received the LoA and contracting formalities will commence shortly. The effective date for the start of project execution will be announced after the contract is signed.
Commenting on this development, Phani Sathish Kadiyala, Country Manager & Branch GM – KSA said, “We are honoured to receive this repeat order from our esteemed customer, SWA, and sincerely thank them for their continued confidence in WABAG. This award reflects the Kingdom’s proactive adoption of next-generation water treatment technologies and further reinforces WABAG’s leadership in advanced technology solutions such as BWRO, SWRO, and recycle-and-reuse systems. We remain fully committed to delivering this state-of-the-art facility to the highest standards of quality, reliability, and performance, aligned with the Kingdom’s Vision and its focus on sustainable, technology-driven water infrastructure.”
Va Tech Wabag is engaged in the business of the water treatment field. Its principal activities include design, supply, installation, construction, and operational management of drinking water, wastewater treatment, industrial water treatment, and desalination plants.
The company reported standalone net profit surged 22.05% to Rs 70.3 crore on a 12.51% rise in revenue from operations to Rs 690 crore in Q2 FY26 over Q2 FY25.
The scrip rose 0.28% to currently trade at Rs 1,283.30 on the BSE.
Metal stocks soared for eight consecutive trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex, declined 46.97 points or 0.06% to 84,994.48. The Nifty 50 index fell 4.55 points or 0.02% to 26,037.75.
In the broader market, the S&P BSE Mid-Cap index fell 0.06% and the S&P BSE Small-Cap index shed 0.11%.
The market breadth was negative. On the BSE, 1,638 shares rose and 2,178 shares fell. A total of 240 shares were unchanged.
Buzzing Index:
The Nifty Metal index jumped 1.38% to 10,954.90. The index rallied 4.69% for the eight straight trading sessions.
Hindustan Copper (up 8.44%), Steel Authority of India (up 4.1%), Tata Steel (up 2.24%), Vedanta (up 2.15%), Jindal Steel (up 1.71%), Hindustan Zinc (up 1.67%), Welspun Corp (up 1.39%), Lloyds Metals & Energy (up 1.32%), JSW Steel (up 1%) and APL Apollo Tubes (up 0.71%) surged.
Stocks in Spotlight:
VA Tech Wabag shed 0.83%. The company has received a letter of award from the Saudi Water Authority for a large repeat EPC order to build a 50 MLD advanced BWRO plant at Aljouf, Saudi Arabia.
JD Cables declined 1.42%. The company announced that it has secured orders worth Rs 8.81 crore from reputed EPC contractors for cable supply operations in Bihar and Jharkhand.
Solarworld Energy Solutions surged 9.10% the company announced that it has received a letter of award for the EPC package for the development of a 250 MWac grid-connected solar PV project worth Rs 725.33 crore from NTPC Renewable Energy.
Va Tech Wabag (WABAG) announced that the developer consortium comprising Metito Utilities, Etihad Water and Electricity Company PJSC, and SkyBridge has been declared the Preferred Bidder by the Saudi Water Partnership Company (SWPC) for the Hadda Independent Sewage Treatment Plant (ISTP) Project in the Kingdom of Saudi Arabia, pursuant to which WABAG is the preferred Engineering, Procurement and Construction (EPC) partner for this project.
The Hadda ISTP Project is to be developed under a 25 – year Build, Own, Operate and Transfer (BOOT) model by the Developer Consortium. The EPC scope as proposed in the bid includes the design, engineering, procurement, and construction of the treatment facilities, which includes a sewage treatment plant with an initial treatment capacity of 100,000 m³/day - expandable to 250,000 m³/day -, an advanced treated sewage effluent (TSE) reuse system, and comprising of a large storage tank and a 38-kilometre transmission pipeline with a throughput capacity of 350,000 m³/day. The commencement date of the project will be announced post execution of the concession agreements and financial closure by the Developer Consortium.