Vietnam Daily News

Manila Water Co subsidiary buys into Saigon Water Corp

Written by Dailynews.vn Saturday, 10 December 2011 17:22

Manila Water Company has acquired a 49 percent stake in Thu Duc Water BOO Corporation, the largest private bulk water supplier in the southern part of Vietnam.

In a disclosure to the Philippine Stock Exchange, MWC said its subsidiary Thu Duc Water Holdings Pte. Ltd has signed an agreement with HCM City Infrastructure Joint Stock Company for the acquisition.

TDW BOO has a bulk water supply contract with the Saigon Water Corporation with a minimum billed volume of 300 million litres per day. MWC did not disclose the cost of the acquisition.

MWC continues to expand its operations in the country and overseas. It has just completed the acquistion of 100 percent of Clark Water Corporation, the water concessionaire for the Clark Freeport Economic Zone.

The concessionaire was acquired from Veolia Water Philippines Inc. (VWPI), Philippine Water Holdings Company Inc. (PWHI), and Veolia Eau-Compagnie generale Des Faux.

Clark Water operates under a 25-year concession granted by Clark Development Corporation. It is currently serving 1,800 locators with a billed volume of about 20 million litres per day.

The customer base of CWC is primarily industrial and commercial accounts comprising 83 percent of its total water sales.

http://www.mb.com.ph/articles/344161/mwc-buys-into-vietnam-supplier

Source: www.intellasia.net/news/articles/business/111350359.shtml