Water and wastewater company Manila Water to end joint venture with Jindal Water

Article Courtesy: IndiaWaterReview

Manila Water Company (MWC) of the Philippines has decided to exit from its joint venture with India's Jindal Water Infrastructure Limited (JWIL).

Manila Water said it has agreed to sell to JITF Water its stake in JITF Manila Water Development Company Limited and would bid for water and wastewater projects in India on its own.

The Philippines-based company had entered into a joint venture with Jindals last year to jointly engage in water supply, wastewater and other environmental services in Rajasthan, Gujarat and Maharashtra. The JV was to carry out planning and development of the water projects under a pre-arranged budget.

“The sale of shares of stock of Manila Water in the joint venture company to JITF Water will allow both Manila Water and JITF Water to freely pursue any business activity in India,” Manila Water said in a disclosure to the Philippine Stock Exchange last week.

The Filipino company recognises India as a significant market for water and wastewater services and has plans to consolidate its position here.

It had earlier this year submitted a bid to provide wastewater management in Bangalore, a project it sought to pursue separately from its Indian partners. Most likely MWC will bid for water and wastewater projects in the three states where it had intended to seek projects with Jindals.

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