HONG KONG (MarketWatch) — Asia: It's home to more than 60% of the world's population and not nearly as much of its drinking water.

 

As temperatures heat up and spigots run just a little bit drier, government officials in the region are increasingly confronted with the issue of water security. They're attempting to combat water scarcity though massive spending -- and that's stacking up as a bonanza for companies dealing in pollution mitigation, pipeline construction and other water-supply-related efforts.

 

Analysts say the spending binge amounts to one of the biggest public-works programs in history as Asian governments seek to balance limited water resources against rising demand stemming from rapid industrialization, greater consumer affluence and climate change.

 

The bounty includes billions in spending to prop up crumbling infrastructure and construct new facilities.

But what might at first appear to be no-brainer investment theme is not without potential pitfalls.

 

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