Ayala Group hikes stake in Vietnamese water firm
A unit of Manila Water Co. is boosting its stake in Saigon Water Infrastructure Corp. to nearly 38 percent.
In a stock exchange filing, the Ayala-led utility firm said Manila Water South Asia Holdings Pte Ltd. is acquiring an additional 6.146 million primary shares of Saigon Water.
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.
Its current investments include Tab Hiep 2, a bulk water firm.providing 300 million liters per day to the state-owned utility serving the area of Hoc Mon, Ho Chi Minh City.
Saigon Water also has investments in Cu Chi Water which diatributes water to the Cu Chi district with almost 75,000 water service connections.