VA Tech WABAG signs $100 Mn partnership deal for municipal water projects

VA Tech WABAG announced today it has signed a non-binding term sheet to establish a new investment platform focused on municipal water infrastructure. The platform will commit up to $100 million in equity investments over the next 3-5 years, in partnership with an investor consortium that includes Norway’s Norfund and two other international investors.

The shares of VA Tech WABAG Limited were trading at ₹1,486.70 up by ₹102.80 or 7.43 per cent on the NSE today at 10.05 am.

The Indian multinational water technology company will serve as the technical partner for the platform, providing engineering, procurement, construction, and maintenance services. WABAG will also make a minority investment in the platform, aligning with its asset-light strategy.

• Also read: Reliance subsidiary acquires 100% stake in NTPL

According to S. Varadarajan, Whole-time Director & Chief Growth Officer at WABAG, the partnership “underscores our commitment to addressing global water challenges by leveraging cutting-edge technology and expertise.”

The new platform aims to combine WABAG’s technical capabilities with the financial resources of its partners to accelerate sustainable water management solutions in the municipal sector. The company indicated further updates will be provided as definitive agreements are reached.

WABAG currently operates in more than 25 countries with over 1,600 water professionals and has built more than 1,500 water and wastewater treatment plants globally.