THERE'S BUSINESS IN WATER

India Inc. is creating modern water infrastructure, aiding the evolution of an organised industry.

-  P.B. JAYAKUMAR & JOE C. MATHEW

THROUGH THE glass-panelled windows on the 16th floor of Maker Chambers 6 in Mumbai’s Nariman Point, all that Arun Lakhani, chairman and MD of Nagpur-based Vishvaraj Environment, sees is just water. The Arabian Sea is on one side and fishing boats floating in the tiny waves of Back Bay on the other. Lakhani is among the pioneers of public-private partnership (PPP) in water and sewage treatment projects in India.

Nowadays, his focus is on the Ganga and Yamuna rivers. Vishvaraj is constructing a chain of sewage treatment plants (STPs) along the Ganga (Kolkata) and Yamuna (Agra). Around ₹1,000 crore is required to set up this infrastructure. While Central and state governments will provide ₹600 crore on annuity, Vishvaraj has to invest the rest for constructing plants within two years. “Financial closure is done with two Austrian banks for funding our investment part,” says Lakhani.

In the south of the country, in Chennai, veteran water technocrat Rajiv Mittal, chairman and MD of VA Tech Wabag, is fine-tuning a detailed blueprint. Rated as India’s biggest and the world’s third-largest water infratech company, Wabag is all set to implement South-east Asia’s largest sea water desalination project in Chennai. “The ₹4,400 crore project will resolve Chennai’s water woes to a great extent,” says Mittal. The firm is also implementing a number of projects under the Centre’s Namami Gange Mission.