Web Exclusive | April 2019
Arvind Envisol, Chinese company sign JV
Arvind Envisol, the wastewater treatment arm of Rs 6,900 crore textile firm Arvind Ltd, is looking for collaborations across India, Africa, Bangladesh and China for driving growth and is in the final stages of signing a joint venture agreement with a Chinese textile company.
The company has emerged as one of the major focus areas within the group ever since a demerger last year split the parent into four listed companies. “We are looking at collaborations either in the form of joint ventures or working with renowned financial institutions with water as one of their focus areas,” said Arvind Envisol CEO Ashish Kumar.
While the JV with the Chinese company is expected to be announced in the next three months, Arvind Envisol is also in talks with the World Bank and International Finance Corporation (IFC) among others to execute water treatment projects in Bangladesh, whose economy depends heavily on the heavily polluting textile and clothing industry.
In India, it expects to accelerate growth by launching its components business, Kaigo. It expects this unit to contribute 25 per cent to its overall revenue in the next three years and establish the company’s presence in the consumer sector by supplying directly to original equipment manufacturers (OEMs) and end users.