Japanese septic-tank maker to launch potable water business in India
NEW DELHI, NNA - Japanese septic-tank maker Daiki Axis Co. will launch a potable water business in India alongside a local firm, cultivating a drinking-water market in a country with one of the world’s poorest water conditions.
Daiki will form a joint venture, Daiki Earth Water Pvt. Ltd., in September with capital of 4 million rupees ($55,770). It will be owned 74 percent by Daiki's Singapore arm and 26 percent by Earth Water Ltd., according to a statement released by the Japanese company on Friday.
The venture plans to enter the waste-water treatment business as well as the potable water business, selling at water kiosks with drinking-water purification devices, the statement said.
Daiki and Earth Water started talks on the project after the former began selling its septic tanks in India in February, with Earth Water among its distributers, a Daiki spokesman told NNA.
In India, 600 million people face extreme water stress, with nearly 200,000 dying each year from inadequate access to safe water, according to a report released last year by the country's National Institution for Transforming India.
In the country counted as one of the most water-stressed by the World Bank, potable water vending machines have started to spread, fueling competition among water-related firms. (NNA/Kyodo)