In December 2024, Mint reported that the Saudi Water Authority had cancelled the tender for a large seawater desalination plant of 300,000 m³/d. On 6 September 2024, VA Tech Wabag had announced an order worth 2,700 crore rupees (317 million US dollars) for the project. According to the company's stock exchange filing of 17 December, the client told all bidders on 16 December that the tender was cancelled for internal administrative reasons. The share price then fell by up to 19.17% on 18 December.
The report showed that even announced large desalination orders could still fall away. For a listed plant builder, such a cancellation hit the share price immediately.
Source: Mint