Global Water Intelligence (GWI)

Metro Pacific accelerates industrial water expansion

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Source: Global Water Intelligence (GWI)

Filipino project developer Metro Pacific Water is ramping up its expansion in the Vietnamese market by buying 49% of three industrial water treatment projects from Tuan Loc, a major Vietnamese infrastructure contractor, for PHP1.99 billion ($38.2 million).

The deal marks the company’s second Vietnamese water investment: in November 2017, it agreed to purchase 45% of a water treatment plant whose customers include the Chu Lai Open Economic Zone in Quang Nam Province for PHP615 million ($11.8 million).

MetroPac Water appears to have settled on a similar strategy to rival compatriot Manila Water, which recently announced industrial water investments in Thailand and Indonesia.

The target company, Tuan Loc Water, holds 50-year BOO contracts for two water treatment plants serving multiple industrial parks in Nghe An and Dong Nai Provinces – with a combined capacity of 290,000m3/d – and a 20,000m3/d wastewater treatment plant for the Nhon Trach 6 industrial park in Dong Nai.

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