Bin Zayed Group UAE Partners with Mumbai Based Aquakraft Projects Pvt Ltd to Address the Water Management Opportunity in India, Middle East & Africa
Dubai, United Arab Emirates, September 27, 2013 --(PR.com
)-- The Bin Zayed Group (BZG) announced a partnership with the Mumbai, India based Aquakraft Projects Pvt Ltd., (Aquakraft) to address the business opportunity arising out of water management in India, Middle East & Africa.
“The areas of partnership will be collaborative, participative & exclusive, comprising of Drinking Water, Waste Water Management, Water Infrastructure projects on BOOT / PPP basis in treatment, supply & vending,” said Midhat Kidwai, Group Managing Director of theBin Zayed Group
“Under the partnership we will also set up Centre of Excellence for Water, which will build local capacity at the Graduate, Undergraduate & Vocational level. This will also promote local talent for R&D and act as an incubation centre for various innovations. A specific IP (Intellectual Property) cell under the Centre will create awareness of IP management in the Water vertical,” Kidwai added.
Subramanya Kusnur, Founder Chairman & CEO of Aquakraft said, “Water management needs to be looked at with a holistic view rather just a product or a service. It has to be a comprehensive and sustainable solutions based approach creating the desired impact. The scope of the partnership would include Bin Zayed Group developing markets for Aquakraft’s offerings, with a specific focus on Middle East and Africa, interalia other mutually agreeable geographies. This would be done through SPV’s, which will be formed as a joint venture between BZG and Aquakraft.”
Commenting further Mr. Kidwai said, “With water overtaking oil as a precious commodity, our partnership with Aquakraft assumes great significance as together we can address the opportunity from a 360 degrees perspective. The versatile experience, domain expertise, and out of the box thinking Mr. Kusnur and his team have demonstrated has been a key factor in aligning with Aquakraft. Innovative models need to be adopted for creating sustainable solutions regarding various facets of water management and with this partnership we will be able to proliferate this philosophy to fruition. We will be executing a business plan immediately for operationalizing the partnership and are immediately working on projects in Eastern Cape South Africa.”
“We are very excited about Mr. Kusnur’s idea of a Sharia compliant financing mechanism of water projects and are also keen to set up a Sharia compliant Water Fund by incubating the same,” Mr. Kidwai added.
Chairman & CEO
Aquakraft Projects Pvt Ltd
Group Managing Director
Bin Zayed Group