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VA Tech WABAG has formally signed the “Mega” Doha SWRO Desalination Plant – Stage II contract in Kuwait

ICICIdirect Research 25 Aug 2026 DISCLAIMER

News: VA Tech WABAG has formally signed the “Mega” Doha SWRO Desalination Plant – Stage II contract in Kuwait, a 60 MIGD (272 MLD) seawater desalination project. The contract is valued at >$150mn (~₹1,400+ crore) and will be executed on a DBO basis over 36 months, followed by 5 years of O&M. This marks WABAG’s maiden entry into Kuwait and strengthens its GCC presence.

View: Positive for WABAG as the Kuwait project strengthens its GCC franchise and international desalination credentials. The ₹1,400+ crore current order takes the order book from ~₹19,400 crore as of June 2026 to >₹20,800 crore, providing ~5.2x FY26 revenue visibility. The key positive is WABAG’s ability to selectively win large, technology-intensive international projects, which should support growth and improve the quality of its order book.

Impact: Positive

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