28/04/2026 03:17 AST

A consortium of India-based VA Tech Wabag, a global leader in water and wastewater treatment solutions, and Heavy Engineering Industries and Shipbuilding Company (Heisco) has been awarded a major contract worth KD114.2 million ($370 million) by Kuwait's Central Agency for Public Tenders (CAPT) for the Doha Seawater Reverse Osmosis (SWRO) Desalination Plant with Re-carbonation System (Stage-2) project.

The project scope includes supply and erection with operation and maintenance services for the plant being developed by the Ministry of Electricity & Water & Renewable Energy.

The contract, awarded on behalf of the Ministry of Electricity & Water & Renewable Energy, is for a total project duration of 96 months, which includes supply, erection, and operation & maintenance (O&M) services.

The Doha SWRO Desalination Plant (Stage-2) will incorporate advanced reverse osmosis technology along with a re-carbonation system, enhancing water quality and operational efficiency.

The contract win comes following the earlier announcement in which the VA Tech Wabag-Heisco JV had emerged as the lowest bidder for the project.

The project marks a significant milestone in Kuwait's ongoing efforts to strengthen its water infrastructure and ensure sustainable potable water supply to meet growing demand.

It aligns with Kuwait's broader strategy to adopt energy-efficient and environmentally sustainable desalination solutions, said the statement from CAPT.

Once completed, the project is expected to play a vital role in supporting Kuwait's water security objectives and long-term development plans, it added.


Trade Arabia

Heisco lands $563m Kuwait Oil Company contract

15/04/2026

Heavy Engineering Industries & Shipbuilding Company (Heisco) has announced that it has secured a key contract worth KD174.2 million ($508 million) from Kuwait Oil Company (KOC) for the construction o

Trade Arabia

Heisco, Shanghai Electric eye Kuwait utility project upgrade work

16/03/2026

Kuwait's Ministry of Electricity, Water and Renewable Energy has announced that it has received bids from only two entities - Heavy Engineering Industries and Shipbuilding Company (Heisco) and Shangh

Trade Arabia

Heisco snaps up $567m KOC upstream infrastructure development work

26/02/2026

Kuwait-based Heavy Engineering Industries & Shipbuilding Company has announced that it has secured a major contract worth KD174.2 million ($567.4 million) from Kuwait Oil Company (KOC) for its projec

Trade Arabia

Ticker Price Volume
SHIP Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ALPHADHABI 7.25 -0.04 (-0.55%)
MODON 3.06 0.04 (1.32%)
SALIK 5.54 -0.02 (-0.36%)
ADNOCLS 5.27 -0.02 (-0.38%)
AIRARABIA 5.19 0.00 (0.00%)
Dubai Investments clarifies status of DIP IPO, says no final decision on timing

28/04/2026

Dubai Investments has clarified that it is still evaluating plans to list a stake in Dubai Investments Park (DIP), following recent media reports about the potential offering and its timeline.

Khaleej Times

Jazeera Airways takes off from T5 after airport reopening

28/04/2026

Jazeera Airways, Kuwait's low-cost carrier, marked its operational return with the first direct flights departing from T5 at Kuwait International Airport.

The flight represents the restorati

Trade Arabia

Dr. Soliman Fakeeh Hospital in Madinah launches first Radiation Therapy Center in the region

28/04/2026

In a significant advancement for the region's healthcare sector, Dr. Soliman Fakeeh Hospital in Madinah has announced the launch of the first Radiation Therapy Center of its kind in the region. This

Saudi Gazette

Saudi Awwal Bank signs agreement with Environment Fund to provide credit facilities

28/04/2026

Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, announced the signing of an agreement with the Environment Fund (EF), under the patronage of Eng. Abdulrahman Abdulmoh

Saudi Gazette

QLM reports QR15.3mn net profit on QR364mn revenues in Q1

27/04/2026

QLM Life and Medical Insurance Company has reported strong insurance revenue of QR364mn in the first quarter (Q1) of 2026, up 22% on annualised basis.

Net profit was flat at QR15.3mn in Q1-2

Gulf Times