MVP Group to buy stake in Vietnamese water firm
MetroPac Water Investments Corp. has inked a deal to acquire 45 percent of BOO Phu Ninh Water Treatment Plan Joint Stock Co., giving it a foothold in Vietnam’s water market.
In a stock exchange filing, MPIC said the proposed transaction involves the acquisition of 9.9 million shares of PNW for 272.4 billion Vietnamese dong or about P615 million.
Pursuant to a 50-year build-own-operate contract with the Chu Lai Open Economic Zone Authority, PNW is licensed to develop a water supply system that will meet clean water demand in the Chu Lai Open Economic Zone, and urban areas, industrial zones and adjacent rural areas in Quang Nam province in Vietnam.
PNW is close to completing the construction of a water treatment plant with a capacity of 25 million liters per day. The facility has a potential to increase its capacity to 300 MLD.