The Board of Directors of VA Tech Wabag Limited has considered and approved the proposal to enter into and execute the Shareholders Agreement amongst VA Tech Wabag Limited; Kopri Bio Engineering Private Limited (Kopri Bio) and A K Electrical and Works Private Limited (AKEPL) to record the terms and conditions between the equity shareholders over the rights and responsibilities for execution of the project towards Design, Build, Finance, Operate and Transfer (DBFOT) in relation to developing, operating and maintaining (a) a 120 MLD sewage treatment plant at Kopri, Thane (East) and, (b) a power generation facility and tertiary treatment plant, for the sale of tertiary treated water of sewage treatment plant at Kopri, Thane (East), awarded by Thane Municipal Corporation on competitive bidding basis.

Kopri Bio is a Special Purpose Vehicle (SPV) formed for the purpose of Design, Build, Finance, Operate and Transfer (DBFOT) contract towards developing, operating and maintaining (a) a 120 MLD sewage treatment plant at Kopri, Thane (East) and, (b) a power generation facility and tertiary treatment plant, for the sale of tertiary treated water of sewage treatment plant at Kopri, Thane (East), awarded by Thane Municipal Corporation (TMC) on competitive bidding basis.

Currently Wabag holds 51% equity shareholding (in Kopri Bio and AKEPL holds 49% equity shareholding in Kopri Bio.