New Tirupur Area Development Corporation Limited (NTADCL) was incorporated in 1995. It was promoted by Tamilnadu Water Investment Company Limited (TWIC), Infrastructure Leasing and Financial Services Limited (IL&FS) and Tirupur Exporters Association as a Special Purpose Vehicle (SPV) to implement the Tirupur Area Development Programme (TADP).

As part of the TADP, NTADCL has been mandated, through a concession by Government of Tamilnadu (GoTN), to develop, construct, operate and maintain a 185 million litre per day capacity water supply project and sewerage facility for about 60% population in Tirupur Municipality at a total cost of about 1023 crores. The project also involves providing low cost sanitation facilities for slum areas in Tirupur

The project of NTADCL is the first private water supply and sanitation project in the country and one of the largest private investments in urban infrastructure in the country. Moreover, this is the first water supply project to be financed commercially on a limited recourse basis.