Shapoorji Pallonji Group’s Eurka Forbes and General Electric International Inc have formed a joint venture to enter the largely untapped water solutions market in India. Apart from providing drinking water for large commercial and residential projects, the venture would manufacture membranes needed for water purifying units using the reverse osmosis process.
The two companies had come together to provide water during the Tsunami crisis in India. While GE has a $3-billion water purification business, Eureka Forbes is the biggest player in the residential segment for water purification in the country. The residential segment of the water market is worth around Rs 1,000 crore. The non-residential market is likely to be bigger.
Pratyush Kumar, president and chief executive officer of GE Infrastrcuture, told Hindustan Times : The two companies have very similar values. Our capacities are complementary. This is a combination made in heaven.”
The joint venture, named Infinite Water Solutions Limited, would invest Rs 17 crore in a factory in Dehradun for manufacturing the membranes that are used for the reverse osmosis process of purifying water.
Suresh Lal Goklaney, managing director of Eureka Forbes, said: “The joint venture will also bring in GE’s technology for the water solutions that we intend to provide. The marketing of the solutions would be done through Eureka Forbes."
The joint venture has already implemented a pilot project for a special economic zone in Pune and is working on more projects. It provides quality drinking water for the entire zone.
Goklaney said that Eureka Forbes has a very good database on the kinds of water problems that various areas of India face. While it is arsenic in West Bengal, the biggest problem in Gujarat is fluoride and the joint venture would combine this knowledge with the best of technology from GE.