Sumitomo allies with VA Tech Wabag
Japan's Sumitomo Corp announced on 7 December 2010 an alliance agreement with India-based VA Tech Wabag Ltd, under which the two companies will strategically cooperate in multiple areas within the water infrastructure industryThe alliance agreement will enable Sumitomo to expand its global water infrastructure assets, increase its operational capabilities and make a step into the Indian water sector, which is expected to grow significantly in the coming years.
VA Tech Wabag, which is working on the Nemmeli seawater reverse-osmosis desalination plant in Chennai with IDE Technologies, has a wealth of experience in the supply and operation of a range of water and wastewater treatment plants not only in India, but in many other parts of the world, particularly in emerging markets.
Sumitomo, meanwhile, operates water infrastructure businesses in different parts of the world under the principle of developing optimal schemes for each project in consideration of local regional characteristics. Building on its achievements in investing in projects for water supply and sewage systems as well as desalination in Mexico, Turkey, Bahrain and the UAE, the company recently agreed to establish a joint venture with Beijing Capital Co Ltd, a leading player in China's water infrastructure market.