Shares of VA Tech Wabag soared 9% after the company announced a non-binding partnership to develop a $100 million water infrastructure platform for municipal projects.

Strategic Partnership for Water Infrastructure Wabag has teamed up with an Investor Consortium, including Norfund—Norway’s investment fund for sustainable development—along with two other international investors. The platform aims to invest in advanced water treatment projects over the next three to five years.

Wabag’s Role in the Platform Technical Partner: Engineering, Procurement, and Construction (EPC) services

Operations & Maintenance (O&M) Expertise

Minority Investment: Aligning with an asset-light business model

"This term-sheet signing with strong global partners highlights our commitment to tackling global water challenges," said S. Varadarajan, Whole-time Director & Chief Growth Officer of Wabag.

Stock Market Impact Wabag’s stock opened at ?1,400 on the BSE, climbing 8.8% to touch an intraday high of Rs 1,510. The shares were trading 7.25% higher at Rs 1,487.85.

Future Outlook This initiative aims to boost sustainable water solutions, leveraging Wabag’s expertise and investors' financial strength to execute transformative municipal water projects. The term sheet will pave the way for formalizing the partnership and launching the platform's activities.