German pump company Homa Pumpenfabrik Gmbh and Coimbatore-based EKKI Pumps have inked an agreement to create a wastewater joint venture pump company in India to cater the domestic market needs and also of the neighbouring markets.
According to a joint statement issued by Homa and EKKI here today, this 50:50 equity partnership will enable the former to expand its global reach in this part of the world.
For the Indian pump manufacturing company EKKI, this will help expand its range of pump offerings.
The partners to the agreement are looking to set up a manufacturing facility in Coimbatore.
EKKI Group comprises two brands – EKKI and Deccan Pumps, four production facilities, 10 sales companies and 500 dealers in the country catering to agriculture, building services, industrial and public utilities markets.
Globally, the company is actively scouting and signing partnerships to intensify its international presence, said Arumugam, Chief Executive, EKKI Group.
The newly formed alliance will operate independently within the EKKI Group, he added.
Klaus Hoffmann, Chief Executive, Homa, said that the company is planning to invest ₹150 crore across its facilities across the globe, but a significant portion of this investment would be apportioned towards the newly formed JV.
“Scarce water, rapid urbanisation, Central Pollution Control Board norms, Swatch Bharat Mission, Smart City mission, national river conservation plans and clean Ganga mission is expected to drive the demand for wastewater pumps in the coming years,” said Kanishka Arumugam, Director, EKKI, voicing optimism about the venture.