Tokyo, Dec 7, 2010 (JCN) - Sumitomo Corp. has signed 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 industry. The 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.
Wabag is a global player in the water treatment industry, with 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 U.A.E., the company recently agreed to establish a joint venture with Beijing Capital Co. Ltd, a leading player in China's water infrastructure market.
With these new strategic alliances, Sumitomo has gained a firm foothold for the speedy and efficient expansion of its water service related business in India and China, which, as the world's two biggest emerging economies, are expected to continue growing in the years to come.
Copyright © 2013 JCN. All rights reserved. A division of Japan Corporate News Network KK.
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