Wabag partners for $100 million municipal water projects

VA Tech Wabag has partnered with Norway’s Norfund and other investors to create a new platform focusing on municipal water infrastructure. This platform aims to gather up to $100 million in equity investments over the next few years. Wabag will take on the role of technical partner for this initiative. They will provide engineering, procurement, construction, and maintenance services. Additionally, Wabag will make a small investment in the platform. The news led to an increase in Wabag's shares, which rose 7% in afternoon trading to ₹1,485. S. Varadarajan, a top executive at Wabag, emphasized the company's commitment to tackling global water challenges. He mentioned that Wabag will use advanced technology and expertise to help solve these issues. The company operates in over 25 countries and has built more than 1,500 water and wastewater treatment plants worldwide.