Chennai, Aug 5 (IANS) City-based diversified industrial group Murugappa on Wednesday announced its foray into water treatment engineering services in a joint venture with Organo Corp of Japan.
In a statement here, the Rs.269-billion Murugappa group said its company Polutech Limited entered into the joint venture with Organo Corp.
The Indian group will hold 51 percent, and the Japanese company 49 percent.
The joint venture will target the industrial water treatment requirements of the growing manufacturing sector in India.
“With water security becoming the critical need of industrial units, we expect this tie-up to address the growing demand of industries to recycle and re-use of water,” said Murugappa group vice chairman M.M. Murugappan.