Va Tech Wabag and Sumitomo are entering into a business alliance. VA Tech Wabag will expand into a more concession type business through this alliance. This will allow VA Tech Wabag to make tremendous gains with projects that are capital intensive. Sumitomo’s network, financial strength and expertise in implementing large scale infrastructure projects would add great value to the Company, both nationally and internationally.
Also, having presence in the water infrastructure business in India with a trusted and long term partner like VA Tech Wabag Ltd. will accelerate Sumitomo’s strategy.