Monday, January 8, 2007

Voltas shopping abroad for water treatment businesses

Tata group company Voltas is looking to acquire companies in Singapore and Europe in the water treatment sector by the year-end. It is already executing a Rs. 300-crore water reclamation project for the Singapore government in which it is converting sewage water for use by agriculture and textile units. Voltas and United Engineers (Singapore) Private Limited had jointly bagged a Singapore $200 mn component of the Singapore $2.2-billion Changi water reclamation plant recently, in which Voltas’ share was around Singapore $116 mn. Voltas had hired an external consultant a few months back, which has submitted its report on the possible strategy the company could adopt to grow the water treatment business.

Read the DNA Money article.

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