De Raj Group AG forms strategic alliance with VA Tech WABAG Ltd.
Cologne, 5 June 2019: De Raj Group AG (ISIN: DE000A2GSWR1, Vienna Stock Exchange) is pleased to announce a strategic alliance with VA Tech WABAG Ltd., an Indian multinational company, for the implementation of water infrastructure projects on a joint basis. Wabag will be responsible for the portion of EPCC (Engineering, Procurement, Construction and Commissioning) of awarded water projects and De Raj will be responsible for being the concessionaire or asset owner and operator of awarded water projects.
Speaking on the development, Nagendran Nadarajah, the Chairman of the Management Board of De Raj commented "This marks De Raj's entry into the Water infrastructure business and is in line with our stated objective of economic development with a clear conscience. We are proud to be embarking on this new business area with a world class organization like Wabag."
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About the De Raj Group:
The De Raj Group AG is listed in the market segment "Standard Market Auction" on the EU-regulated market (Amtlicher Handel) of the Vienna Stock Exchange (Wiener Börse) since Feb 8th, 2018. The shares are also listed since March 23rd, 2018 at the Open Market in Frankfurt / Main and at XETRA of Deutsche Börse AG. The De Raj Group is strong in the Oil & Gas sector and Power Generation sector, where it owns and operates strategic equipment/facilities in both of these sectors which are provided on mid-to long-term lease to the market. In the Power sector, it was involved in both conventional power generation and CHP (Combined Heat and Power) generation. The Group is embarking on an international expansion plan in the Middle East and the Asia Pacific region. The Oil & Gas division of the Group provides specialist services supported by IP patents for the full spectrum of the upstream Oil & Gas supply chain, particularly in the South East Asian region. The Group owns a diversified portfolio of assets comprising jack-up rigs and topside equipment. These jack-up rigs, with the readily available equipment can be modified quickly to suit client requirements for offshore facilities in the development of marginal fields, including as well enhancement of production in producing fields. This supports very well Oil companies desire for early monetisation of hydrocarbon with cost effective solutions.
About VA TECH WABAG Ltd.
The VA TECH WABAG Ltd. Group head quartered in Chennai, India, with its global presence in 4 Continents and more than 20 countries has a work-force of more than 2,000 people. With a history dating back more than ninety years, the group has emerged as a leading pure play water technology player across the globe with focus on emerging markets.
For further information:
De Raj Group AG, Investor Relations, mailto: email@example.com
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