Va Tech Wabag, a Chennai-based water treatment solutions provider, on Monday said it was open to acquisitions that could bring in new technologies, besides providing access to newer markets and opportunities in BOOT (build, own, operate and transfer) projects.
“We currently have around Rs 300 crore cash and have the capability to go in for an acquisition for up to Rs 1,000 crore. We have already appointed advisors and should be able to close the buyout deal in the next six to eight months,” Rajiv Mittal, managing director of Va Tech, told mediapersons in Chennai.
At present, Va Tech is in the process of implementing four projects worth around Rs 600 crore. These involve setting up new water treatment and sewage treatment plants, refurbishment and running these plants, he added.
One of these projects is for providing ultra pure water to nearly 8,000 athletes from 71 Commonwealth Games Associations during the 19th Commonwealth Games (CWG) to be held in Delhi from October 3 to 14. The CWG water treatment plant will be ready for pre-commissioning in January and will be handed over to the Delhi Jal Board in March 2010.
The plant, which will have a capacity to produce one million gallon of ultra pure water per day, will also cater to the water requirements of the Akshardham Temple, Mittal said.