NAPC signs deal with Sweden firm for water projects

Chennai: Lackeby Water Group of Sweden is set to tap the Indian market for water treatment and water management projects through an agreement with NAPC Ltd, a Chennai-based infrastructure and construction contract company.

An agreement signed between Lackeby Water and NAPC provides for the Indian company to be the lead member with Lackeby Water as subcontractor for the technology to bid for water management projects in the public and private sector.

Lackeby Water’s contracting business is operated through its brand Purac, which has projects in 70 countries in water treatment, including waste water, drinking water and process water for public utilities and the private sector.

Mr Varun Manian, Director, NAPC Ltd, said NAPC, a contract company in mining, infrastructure, is also into real-estate development and construction products. Getting into water treatment is a natural extension for NAPC, which sees significant business opportunities in this area.

NAPC and Purac will bid for water treatment projects including sewage treatment plants, desalination projects major projects are in the offing in Tamil Nadu and across all the urban centres and effluent treatment.

An added strength is the partners’ capability to bring in investments from Europe to fund the projects. Institutional investors in Europe have evinced interest in funding such projects and are willing to bring in $100 million to $500 million at competitive interest rates. This would be an advantage while competing for contracts, he said.

Mr Sven Alqvist, Vice-President and General Manager, Lackeby Water Group – Purac, said the group is also into biogas projects. Apart from setting up water treatment projects, Lackeby is also into operation and maintenance and handles water treatment for utilities in a number of countries including Oslo, Norway, and China. Lackeby is a $100-million technology-driven company that is owned by the Swedish Cooperative Union, a cooperative of Sweden’s consumer associations.