Doshion Managing Director Ashit Doshi said in a release that his company would hold 70 per cent stake and Veolia 30 per cent in the to be formed Doshion Veolia Water Solutions company.

“The new company will scout for large opportunities in India and the south east Asian markets. It will offer industrial solutions for pure and waste water treatment, sludge disposal requirement and drinking water solutions to city administrations.”

Doshion is aiming at revenues of Rs 1,000 crore by 2010-11, driven by a high demand from the infrastructure sector. “With our strength in the domestic market and the joint venture, revenues of Rs 1,000 crore is possible by 2010-11,” Doshi added.

“We see large opportunities in the engineering, procurement and construction (EPC) sector and also a good demand for effluent treatment plants and process industries.”

The company may also look at private equity (PE) placement to meet its fund requirements. Infrastructure major IDFC Ltd is already a PE investor in the company.

“As we try to acquire more Built Operate Own and Transfer (BOOT) projects, we will require funds. Though as of now, we do not require it, we would look at PE when the opportunity emerges,” Doshi said. He did not rule out the possibility of tapping the capital market with an initial public offer (IPO) in the medium term of three to four years.