Greentech Lead Asia: Tri-Tech Holding, a provider of water resources management, water and wastewater treatment, is expanding in Indian market with a joint venture with Chengdu Xingrong Investment (CXI) and two Tri-Tech subsidiaries.
The joint venture will increase the registered capital of the existing Tri-Tech India, a joint venture of TTB and TIS, to $1,000,000. It will focus on developing Indian water infrastructure markets.
The company has established their brand in India and built a local team with a great deal of experience in project execution.
The joint venture will also include two of Tri-Tech’s wholly-owned subsidiaries, Tri-Tech (Beijing) (TTB), and Tri-Tech Infrastructure (TIS), a Delaware LLC. The capital contribution from CXI will be $600,000 whereas that from TTB and TIS is $390,000 and $10,000 respectively.
“The partnership aligns three great companies with much synergy in a land offering exciting opportunities,” said Gavin Cheng, CEO of Tri-Tech Holding. “To take our business to a new level in India, we need massive capital backup and other resources.”
The funding from China and the U.S market is expected to strengthen the quality of Tri-Tech technologies and position the company in the top tier of firms in India’s water and wastewater infrastructures EPC (Engineering, Procurement and Construction) space, Cheng added.
Tri-Tech has plans to pursue more strategically important projects, including EPC, PPP (Public-Private Partnership), BOT (Build-Operate-Transfer) projects.
The new entity will soon start to bid on multiple projects of water supply systems, sewage treatment plants, conveyance and pipelines and other projects in India. It will focus on business development, project financing and operation management, while the existing EPC team, Tri-Tech Infrastructures (India) will use its approximately 70 local members to focus on EPC based project execution.