VA TECH WABAG (WABAG), a leading Indian multinational in water technology, has signed a non-binding term sheet to establish a dedicated platform (‘Municipal Platform’) for capital projects in the municipal sector. The platform will involve an equity investment of up to $100 million over the next three to five years.
This initiative will be formed in collaboration with an investor consortium that includes Norfund, the Norwegian government’s investment fund for sustainable development, along with two other international investors. As the Technical Partner, WABAG will contribute its expertise in Engineering, Procurement, and Construction (EPC) as well as Operations and Maintenance (O&M) services. Additionally, WABAG will make a minority investment in the platform, aligning with its asset-light strategy.
The Municipal Platform aims to leverage the combined strengths of WABAG and its partners to address the rising demand for advanced water treatment technologies and infrastructure. It will focus on supporting sustainable water management while promoting economic development through transformative municipal projects.
The signing of the term sheet marks a significant step toward formalizing the partnership, with further progress expected as the collaboration advances. WABAG’s commitment to the water sector remains firm, and the company views this platform as a strategic move to accelerate sustainable water solutions.
Commenting on the development, Mr. S. Varadarajan, Whole-time Director & Chief Growth Officer of WABAG, stated, “This agreement with our global partners highlights our dedication to tackling global water challenges through advanced technology and collaboration. It reinforces our asset-light strategy, combining our technical leadership with our partners’ financial strengths to deliver impactful and sustainable water solutions.”