Thai utilities WHA pours trillions of VND in Vietnamese water plant

November 05, 2019 | 17:31

(0) user say

Responding to the grievous lack of clean water, Duong River Surface Water Plant JSC has attracted Thai investor WHA Utilities and Power Plc. (WHAUP) to pour VND2.07 trillion ($90 million) into acquiring 34 per cent.

thai utilities wha pours trillions of vnd in vietnamese water plant

Thai utilities WHA invested in the Vietnamese water plant as part of its long-term investment strategy

WHA Utilities and Power (WHA) approved its subsidiary, WHAUP to enter into a share purchase agreement with Do Tat Thang, a shareholder of Duong River Surface Water Plant JSC, to buy 33,986,774 shares amounting to 34 per cent.

This investment marks an important step of WHA in Vietnam as part of its long-term investment target.

Duong River surface water plant project is the biggest clean water plant in North Vietnam, with an area of 65 hectares, located in Phu Dong and Trung Mau commune, Gia Lam suburban district, Hanoi.

The project targets ensuring the clean water source for one-third of Hanoi's population (about 3 million people in the northeast and south of the city).

In the first phase, the project has the total investment of VND5 trillion ($217.39 million) from shareholders including Hanoi Water Co., Ltd. (10 per cent), New Technology Application and Tourism One-Member LLC (Newtatco) (5 per cent), Vietnam-Oman Investment JSC (entrusted investor, 27 per cent), AquaOne Water Corporation (entrusted investor, 58 per cent).

Previously, on September 5, the first phase of the water plant officially kicked off. Equipped with advanced and environmentally friendly equipment, Duong River Surface Water Treatment Plant is part of Hanoi’s clean water supply planning by 2030, with a vision towards 2050 approved by the prime minister in 2013 and by Hanoi in 2016. The project will be developed and expanded by 2022, reaching a capacity of 900,000 cubic metres per day.

By Tan Duong

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional