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Kolkata , Sept 21

THE Rs 280-crore Ion Exchange (I) Ltd, a total water management company, has entered into a 50:50 joint venture with Waterleau of Belgium, a euro 30 million company.

The estimated market in India, for sewage water and solid waste treatment is said to be around Rs 4,500 crore and growing annually at the rate of 10-12 per cent.

The European company, with significant presence in Europe, West Asia, Asia and Russia, has proprietary technology for wastewater treatment for municipal and industrial wastes (both liquid and solid) and for air pollution, volatile organic carbon reduction nox treatment, i.e., nitrogen oxide reduction in air.

Briefing newspersons here today, the CEO of Ion Exchange Waterleau, Mr Ajay Popat, said "with this venture, we are planning to enter the solid waste treatment and air pollution market in a big way".

He said the new company, formed with an equity base of $1 million, would cater not only to the Indian market but also the Asian market.

He said it will provide single point total environmental solutions to the industry and municipal bodies for waste water and sewage treatment, solid waste treatment and disposal, hazardous waste management, air pollution control and renewable energy generation with emphasis on industrial and infrastructure projects.

According to the Managing Director of Ion Exchange, Mr Rajesh Sharma, it has provided installations for diverse industries in India and abroad.

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