India, March 21 -- 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 ma...