UK-based Contec Global inks over USD 200 million deal with Maithri Aquatech
Hyderabad, Dubai & London – Feb 4, 2021 - Maithri Aquatech Pvt. Ltd. and Contec Global are pleased to announce that they have entered into a strategic alliance, combining Maithri Aquatech’s leading Air-to-Water sustainable solutions with Contec Global’s vast footprint in Africa and the Middle East, to meet the ever-growing requirements of clean, potable and safe water in these regions on a sustainable basis.
The MoU signed between both the companies is for over US $200 million, spread over the next few years. The first project to stem from this partnership will be implemented in select Middle East countries.
Water, being the most important natural resource on Earth, has become extremely critical in current times due to the adverse impact of climate change, population growth, industrialisation and urbanization. It impacts all aspects of life including food security, which is at risk as global agriculture is being impacted by water scarcity. There is an urgent need to mitigate this problem by implementing sustainable solutions without exploiting scarce natural water resources. The Maithri Aquatech – Contec Global partnership will bring together valuable skills in sustainable water solution development, deployment and social impact strategy to help various countries take a positive step towards Water and Food security, through innovative Air-to-Water solutions.
This US $200 million business deal, spread over the next few years, would undertake capacity building in African and Middle East countries using Indian technology and expertise to deliver turn-key AWG solutions for drinking and micro-irrigation in acutely water-stressed areas, according to Ramkrishna Mukkavilli, Founder and Managing Director of Maithri Aquatech. “Bringing sustainable technology to Africa has been the focus of Contec Global. We see water problem assuming critical dimensions in coming years and the partnership with Maithri Aquatech will help address some of this. We are excited to make use of this opportunity to showcase this cost-effective technology as an end-to-end water solution for clients across Africa and the Middle East,” said Dr. Benoy Berry, Chairman of Contec Global.
“The Maithri Aquatech – Contec Global alliance is a sustainability Improvement opportunity for both our companies. By providing our solutions through Contec Global’s established distribution system in Africa and the Middle East, it will help transform governments, corporates, communities and others from being net consumers of water to becoming net producers of water, on a sustainable basis”, said Ramkrishna.
“In line with Contec Global’s core focus, the partnership with Maithri Aquatech would expand Contec Global’s offering to cover scalable water solutions, which are capable of producing water from air on a mass scale and on a sustainable basis” added Dr. Benoy Berry.
The synergies created by combining Contec Global’s expansive network with Maithri Aquatech’s sustainable technologies, open new horizons for both businesses to address the needs of global markets for water solutions across different applications.