Manila Water invests more in Vietnam

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vietnam-water2Manila Water Co. Inc. (MWCI), a member of Philippines industry conglomerate Ayala Holding, is investing in another Vietnamese utility firm, according to a disclosure to the Philippine Stock Exchange.

MWCI announced that its subsidiary Manila Water South Asia Holdings Pte. Ltd. has signed an investment agreement with Vietnam’s Saigon Water Infrastructure Corp. for the acquisition of 18. 37 million primary shares which will constitute 31.47 per cent of the outstanding capital stock of the Vietnamese company.

Saigon Water Infrastructure Corp., which has been listed at the Ho Chi Minh City Stock Exchange since September 2012, is reportedly setting its sights on the development of the Sagion Pleiku water plant project in Gia Lai province which will have a treatment capacity of 30,000 cubic meters per day.

“Saigon Water aims to become the first fully integrated company in the Vietnam water and wastewater infrastructure sector, through the construction of water and wastewater treatment plants and the provision of engineering,operation and management services and other similar activities,” the company said.

The acquisition would expand Manila Water’s presence in Vietnam. Manila Water has already invested around $100 million in Vietnam’s water treatment sector, including a 49 per cent stake in BOO Thu Duc and a 47 per cent stake in Kenh Dong water plants in Ho Chi Minh City.

Potential in Vietnam’s water treatment sector is still huge as the current rate of tap-water supply in urban and rural areas is only 60 per cent, statistics show.

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Reading Time: 1 minute

Manila Water Co. Inc. (MWCI), a member of Philippines industry conglomerate Ayala Holding, is investing in another Vietnamese utility firm, according to a disclosure to the Philippine Stock Exchange.

Reading Time: 1 minute

vietnam-water2Manila Water Co. Inc. (MWCI), a member of Philippines industry conglomerate Ayala Holding, is investing in another Vietnamese utility firm, according to a disclosure to the Philippine Stock Exchange.

MWCI announced that its subsidiary Manila Water South Asia Holdings Pte. Ltd. has signed an investment agreement with Vietnam’s Saigon Water Infrastructure Corp. for the acquisition of 18. 37 million primary shares which will constitute 31.47 per cent of the outstanding capital stock of the Vietnamese company.

Saigon Water Infrastructure Corp., which has been listed at the Ho Chi Minh City Stock Exchange since September 2012, is reportedly setting its sights on the development of the Sagion Pleiku water plant project in Gia Lai province which will have a treatment capacity of 30,000 cubic meters per day.

“Saigon Water aims to become the first fully integrated company in the Vietnam water and wastewater infrastructure sector, through the construction of water and wastewater treatment plants and the provision of engineering,operation and management services and other similar activities,” the company said.

The acquisition would expand Manila Water’s presence in Vietnam. Manila Water has already invested around $100 million in Vietnam’s water treatment sector, including a 49 per cent stake in BOO Thu Duc and a 47 per cent stake in Kenh Dong water plants in Ho Chi Minh City.

Potential in Vietnam’s water treatment sector is still huge as the current rate of tap-water supply in urban and rural areas is only 60 per cent, statistics show.

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