VA Tech WABAG Ltd., a leading Indian multinational in water technology, has announced the signing of a non-binding term sheet for an equity investment platform focused on capital projects in the municipal sector. The initiative involves a proposed commitment of up to USD 100 million over the next 3 to 5 years by an investor consortium led by Norfund, the Norwegian Government’s investment fund for sustainable development, along with two other international partners.
WABAG will act as the Technical Partner, contributing its expertise in Engineering, Procurement and Construction (EPC) and Operations & Maintenance (O&M) services. In alignment with its asset-light strategy, the company will also make a minority investment in the platform.
The platform, to be known as the Municipal Platform, aims to deliver advanced water infrastructure solutions in key municipal markets. It will combine WABAG’s technical excellence with the financial strength of its global partners to address the growing demand for sustainable water management systems.
The partnership reinforces WABAG’s commitment to tackling global water challenges through technology and collaborative investment. “This step of signing the term-sheet with strong global partners to establish the Municipal Platform underscores our commitment to addressing global water challenges by leveraging cutting-edge technology and expertise,” said S. Varadarajan, Whole-time Director & Chief Growth Officer of WABAG.
The collaboration also aligns with the company’s focus on the United Nations Sustainable Development Goals (UNSDGs) and its Environmental, Social, and Governance (ESG) priorities.
Definitive agreements are expected in the coming months, subject to further discussions and approvals.
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