Sinomem Technology says wholly-owned subsidiary, Suntar Investment, has entered into a joint venture agreement with Tacama Holdings, a company incorporated in Singapore and Sheridan Environment Protection, a company incorporated in India.

Under the Joint Venture, Suntar and Tacama will incorporate a joint venture company in Singapore.

The JV company will in turn incorporate a wholly-owned subsidiary in India for the purpose of carrying out the business of water and wastewater treatment, manufacture of components of pumping stations and water management, construction and management of drinking water treatment plants and waste water and effluent treatment plants in India.

Tacama is a member of the J.V. Gokal Group in India with businesses in commodity trading and tea processing.

Under the JV, Suntar and Tacama will each have a 50% shareholding in the JV company. The initial paid-up capital of the JV company will be $500,000, to be contributed by both Suntar and Tacama in equal proportions.

Suntar and Tacama have further to increase — by contribution in equal proportions — the paid-up capital of the JV company to $1.5 million before Dec 31, 2011.