According to the bank's website, "The proposed investment includes subscription to Non-Convertible Debentures of up to INR1,047 million (equivalent to US$14.2 million) and a mobilization of a loan of up to INR712 million (equivalent to US$9.7 million) for Ganga STP Projects Private Limited (“GSPPL” or the “Company”), a special purpose company, incorporated by VA Tech Wabag Limited (“Wabag”) as its wholly owned subsidiary, and which shall include investments by Kathari Water Management Private Limited (“KWMPL”), subject to fulfilment of conditions by Wabag, for the Howrah Sewerage Project in the Kolkata Metropolitan Development Authority (“KMDA”) area, in West Bengal, India (the “Project”)."
The project sponsors are Wabag and KWMPL. Wabag is a technology focused company providing solutions in the water and wastewater treatment space, including Engineering Procurement & Construction and Operations & Maintenance services, across India, South East Asia, Middle East, Africa, Europe and Latin America. It caters to the municipal as well as industrial clients, has executed over 6000 projects globally to date. KWMPL is a portfolio company of the Green Growth Equity Fund. GGEF is a green energy focused fund which shall invest in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains in India. The anchor investors of GGEF are National Investment and Infrastructure Fund, India’s first infrastructure specific investment fund set up by Government of India, and Foreign, Commonwealth and Development Office, Government of UK. GGEF is managed by its investment manager, EverSource Capital Private Limited Capital, a joint venture between Everstone Capital, a private equity firm with business in South East Asia, and Lightsource BP, a solar energy company in Europe.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Ganga STP Project Private Limited
Mr. Rangarajan Sampath
WABAG House, No.17, 200 Feet Thoraipakkam, Pallavaram Main Road, Sunnambu Kolathur, Chennai 600117, India
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