Jindal Saw’s subsidiary inks JV agreement with Manila Water
Jindal Saw’s subsidiary, Jindal Water Infrastructure (JWIL) has entered into a joint venture (JV) agreement with Manila Water Company, Inc (Manila Water) to jointly develop new businesses in the field of water supply, waste water and other environmental services in the states of Rajasthan, Gujarat and Maharashtra in India.
Under the JV, JWIL and Manila Water will form a joint venture company (JVC) to serve as a vehicle for the planning and development of projects in the aforementioned states. Key management officers of both parties shall compose the JVC’s management and project team, where business development initiatives shall be carried out through a pre-agreed development budget.
The New Delhi-based JWIL is part of the O P Jindal Group, one of India’s largest business houses. JWIL was formed as a service company to focus on designing sustainable and innovative solutions in water and waste water management.
JWIL is a part of infrastructure initiative of Jindal ITF, which is a wholly owned subsidiary of Jindal Saw. JWIL has been carrying out projects of pipeline laying for power projects and has recently bagged the prestigious Naya Raipur Development Authority Project for development of water supply system in Naya Raipur, Chhattisgarh.
Through the partnership with Manila Water, JWIL hopes to develop and substantially build its presence in the water sector in India.
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