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Major trading house Marubeni Corp. said Thursday it has decided to acquire a 40 percent stake in Osmoflo Holdings Pty. Ltd., a major Australian desalination and industrial water treatment company, with the aim of boosting its water business globally.

Through the investment, Marubeni aims to promote water projects in Latin American countries that are rich in natural resources, as well as in China and the Middle East, where demand for desalination projects is expected to increase, it said.

Marubeni said it positions the water business as one of its most important business sectors and targets becoming one of the world’s top 10 water companies within three years.

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