MUMBAI: VA Tech Wabag Ltd has informed BSE that the company has entered in to an alliance with Sumitomo Corporation, Japan.
According to the company, the alliance will help VA Tech Wabag to expand more into concession type business, where the projects are capital intensive.
Also, Sumitomo’s financial strength, network and expertise in implementing large-scale infrastructure projects would add superior value to the company, both domestically and worldwide, VA Tech Wabag said.
The partnership will also accelerate Sumitomo’s strategy to have presence in water infrastructure business in India by having a trusted and long-term partner like VA Tech Wabag Ltd, it added. — Our Bureau
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