7 April 2016 12:00 am
The world’s largest wastewater service firm is looking to enter Sri Lanka and help modernize the country’s disposal methods, a statement by Sri Lanka’s Industry and Commerce Ministry said.
“We are the single largest wastewater management company in the world, well-known for green-tech, microbiology, biotech and nanotech innovations,” said Indah Water Konsortium (IWK) Malaysia Manager Devan Iyavoo on April 5 in Colombo.
IWK’s Iyavoo, a member of the visiting Malaysian delegation to Sri Lanka, was addressing Industry and Commerce Minister Rishad Bathiudeen during the visiting delegation’s meeting with the minister in Colombo.
The 12-member Malaysian delegation was led by a VIP - Political Secretary of Malaysian Prime Minister Datuk Shahlan Ismail. The team is in town scouting business and investment opportunities in Sri Lanka.
“We have been entrusted to develop and maintain a modern and efficient sewerage system for all Malaysians. We manage almost the entire sewage network of Malaysia’s 87 local authorities except a few states as well as sewerage in ports, etc. Therefore, we are the single largest wastewater management company in the world and we are well-known for green-tech, microbiology, biotech and nanotech innovations. IWK’s valuation is close to US $ 1 billion,” said Iyavoo.
“Sri Lanka – Malaysia trade and development cooperation has been longstanding. Sri Lanka’s bilateral trade with Malaysia in 2014 was at US $ 760 million, an increase of 24 percent from 2013. In 2015 January to September, total trade was reported to be US $ 346 million, according to the Commerce Department of Sri Lanka.
IWK multinational is wholly owned by MOF (Inc.), which operates under the Malaysian Finance Ministry.