VA Tech Wabag (WABAG), a leading pure-play water technology Indian MNC, announces the signing of non-binding term sheet for a dedicated platform (Municipal Platform) to focus on the development of capital projects for the municipal sector. The Platform will commit equity investment of up to US$ 100 million in capital projects over a 3 to 5 years period.

The Municipal Platform will be established in collaboration with an Investor Consortium including Norfund and two other international investors, Norfund is the Norwegian Government’s investment fund dedicated to supporting sustainable development.

WABAG will play a pivotal role in the platform as the Technical Partner, delivering EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services. WABAG will also make a minority investment in the platform, consistent with its Asset-Light Strategy.

The proposed platform will focus on leveraging the combined expertise and resources of WABAG and its partners to address the growing demand for advanced water treatment technologies and infrastructure. By uniting capabilities, the platform will target key opportunities in municipal sector, supporting sustainable water management and contributing to economic development.

Commenting on this key development, S. Varadarajan, Whole-time Director & Chief Growth Officer said, "This step of signing the term-sheet with strong global partners to establish the Municipal platform underscores our commitment to addressing global water challenges by leveraging cutting-edge technology and expertise. This initiative reflects our asset-light strategy, emphasizing partnerships that combine WABAG’s technical excellence with the financial strengths of our collaborators to accelerate impactful and sustainable water solutions."