WRG sows the seeds for further growth in South Asia

The establishment of a joint venture between Australian desal technology company Water Resources Group and Indian private equity house Mandala Capital Partners late last week sent WRG’s stock price soaring by more than 40%.

WRG will hold a 49% stake in the JV, through which it hopes to leverage Mandala’s regional network to develop business opportunities in Bangladesh, Pakistan and Sri Lanka, as well as gaining an entry point into the rapidly growing Indian desalination market.

Mandala, which is backed by $4 billion London-based investment fund Altima Partners – whose co-founder Dominic Redfern also sits on WRG’s board – invests mainly in the agricultural sector.

Mandala managing director Uday Garg is a member of Hyderabad’s Barwale family, which in 1964 established the Maharashtra Hybrid Corporation, the largest seed company in India. Mandala now wants to explore how WRG’s low-cost ozone generation technology can be used for seed and food preservation.