Chennai: Polutech Ltd, part of the Murugappa group, and Japan’s Organo Corp. on Wednesday agreed to form a joint venture for industrial waste water treatment.
Polutech, which makes waste treatment plants, will hold 51% stake in the venture while the rest will be held by Tokyo-based Organo which specializes in industrial water treatment, the Murugappa group said in a statement.
Polutech offers water management solutions, operation and maintenance services.
“We are encouraged by the increased industrial activity in the country which has been buoyed by the philosophy of Make in India,” said M.M. Murugappan, vice-chairman of Murugappa group.
The new company will fit the critical link in the process chain of industrial water usage, he added.
