Spainish GS Inima Environment acquires 30 per cent stake in Phu My Vinh industrial water supplier

February 14, 2022 | 20:37

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GS Inima Environment, the water treatment business of Spain-based GS Engineering and Construction Corporation (GS E&C), earlier this month bought a 30 per cent interest in Vietnam’s Phu My Vinh Construction & Investment JSC (PMV) based in Long An Province.

Positioned as one of the companies with the largest number of plants in terms of concessions, GS Inima acts as a global benchmark in the water sector, specialising in environmental activities associated with the integral water cycle.

The tie-up deal highlights the company’s aim to penetrate the Southeast Asian water treatment industry, particularly Vietnam, following its entrance into the South American and Middle Eastern sectors.

Specific ownership stakes in PMV include 30 per cent held by GS Inima and 30 per cent held by Malaysian water treatment company RBC Water, with individual Vietnamese investors holding other 40 per cent interest.

According to GS E&C, the fast-growing Vietnamese economy will see a significant rise in the need for industrial water treatment and delivery.

Huh Yoon-Hong, CEO at GS E&C noted, “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.”

By purchasing Brasil's BRK Ambiental's industrial water treatment company in 2019 and securing a saltwater desalination project in Oman in 2020, GS Inima also joined the South American and Middle Eastern markets.

By Trung Duong

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