The move, according to the Korean Electronics giant, is aimed at helping the company to combat global water supply issues and to move further toward becoming a more environmentally sustainable business.

LG will invest more than Shs32 billion (USD 400 million) over the next decade with the goal of generating USD 7 billion in revenue by 2020, and in the process becoming a top 10 global water treatment company.

LG’s Regional Marketing Manager for Eastern Africa, George Mudhune said much of the investment will go towards acquiring the right technology and building up research and development in this field.

“Water affects every aspect of our lives, yet almost one billion people around the world don’t have clean drinking water and more than 2.5 billion still lack the most basic sanitation,” he said.

LG will concentrate its Research and Development on developing an advanced membrane filtration system, its core technology and key component of water treatment solutions. LG will also expand its internal capabilities with the additional hiring of membrane filtration experts and process engineers.

Mudhune said the company will also be pursuing various types of partnerships, mergers and acquisitions as part of its strategy to expand quickly.

LG will begin with industrial water treatment and expand its coverage into sewage and drinking water treatment. The company eventually plans to enter the business of water treatment engineering and procurement as well as operation and maintenance across the municipal sector.

“The global water crisis isn’t going to go away by itself – governments, citizens and corporations will all have to work closely together,” said Mudhune. “The water business has been growing by an annual rate of 15 percent so there’s an incentive for companies to invest in finding solutions, but beyond the business, I think this is one problem where LG’s experience and commitment to finding sustainable solutions will be a huge advantage.”