Governments, utilities providers and water companies signed 27 agreements totalling more than SGD367 million (USD270 million) during the first Singapore International Water Week, which drew to a close last Friday. In addition, a water fund was launched to attract SGD435 million (USD320 million) in investments in Asian water projects.
The global event for the water industry also saw governments and international organisations announcing significant initiatives to prioritise water investments and research. Singapore plans to set up an Institute of Water Policy to research water policy and governance in Asia, and Asian Development Bank President Haruhiko Kuroda unveiled a seven-point agenda for prioritising water investments in the Asia-Pacific, saying that the bank was committed to helping states in the region boost new water investments to SGD27.2 billion (USD20 billion), to improve water security. Malaysia’s AmInvestment Bank and Singapore water firm Konzen launched a water fund that hopes to pull in SGD435 million (USD320 million) to invest in Asian water projects.
Among the business deals concluded was one worth an estimated SGD272 million (USD200 million) over the next three years for Singapore-based Ayser-Technische Corporation and Acuatico. The two signed a Memorandum of Understanding to set up a joint venture to design, construct and operate private water infrastructure projects in Indonesia.