Spain-based corporation enters Vietnam’s water treatment market

February 11, 2022 | 15:32

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GS Inima Environment, the water treatment subsidiary of Spain-based GS Engineering and Construction Corp. (GS E&C), has acquired a 30 percent stake of Phu My Vinh Construction & Investment JSC (PMV) – an industrial water supplier in the Vietnam's southern province of Long An.

Spain-based corporation enters Vietnam’s water treatment market

An overview of Hoa Khanh Tay - a water treatment facility of Phu My Vinh Construction & Investment JSC (Photo: GS E&C)

Hanoi - GS Inima Environment, the water treatment subsidiary of Spain-based GS Engineering and Construction Corp. (GS E&C), has acquired a 30 percent stake of Phu My Vinh Construction & Investment JSC (PMV) – an industrial water supplier in the Vietnam's southern province of Long An.

This move demonstrates the company’s effort to tap the Southeast Asian water treatment market after its foray into the South American and Middle Eastern markets.

Specifically, GS Inima holds 30 percent, Malaysian water treatment company RBC Water, 30 percent, and individual Vietnamese investors have a 40 percent stake in the PMV - the owner and operator of two industrial water treatment plants in Long An.

According to GS E&C, the demand for industrial water treatment and supply is expected to increase sharply in the fast-growing Vietnamese economy.

“The water treatment business is an important growth driver of GS E&C and a key player in the environmental, social and corporate governance era,” said Huh Yoon-Hong, the CEO of GS E&C.

GS Inima previously entered the South American market by acquiring Brazil`s BRK Ambiental’s industrial water treatment business in 2019 and entered the Middle East market by winning a seawater desalination project in Oman in 2020.

VNA

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