MPIC acquires 49% of Vietnam water firm

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC) has acquired a 49 percent stake in Tuan Loc Water Resources Investment Joint Stock Co. (TLW) for roughly P2 billion.

The transaction allows MPIC, through subsidiary MetroPac Water Investments Corp., to “expand into Vietnamese industrial water concessions.”

TLW is one of the largest water companies in Vietnam, with 310 million liters per day (MLD) of installed capacity and a billed volume of approximately 87 MLD as of the end of 2017.

A majority of TLW’s 310 MLD of operating capacity is supplied to industrial parks.

Among TLW’s assets include the Song Lam raw water treatment plant, a 50-year build, operate own project with an installed capacity of 200 MLD, expandable to 300 MLD.

The Song Lam plant supplies raw water to Nghe An Water Supply JSC and surrounding industrial parks in Nghe An Province, the largest province in Vietnam with a population of about 3.1 million people.

Another project is the Ho Cau Moi water treatment plant, which is also a 50-year BOO project with an installed capacity of 90 MLD, expandable to 120 MLD.  It supplies treated water to Dong Nai Water Company and surrounding industrial parks in Dong Nai province, a manufacturing satellite of Ho Chi Minh City.

The province will also be the location of the Long Thanh International Airport, the new 100 million passenger airport of Ho Chi Minh City.

Dong Nai Province has a population of about 2.9 million.

The company is also working on the Nhon Trach 6A sewage treatment plant, a 50-year BOO with an installed capacity of 20 MLD expandable to 40 MLD.  It is the wastewater treatment facility for the 400-hectare Nhon Trach 6 Industrial Park in Dong Nai Province.

MPIC said the parties have until June 30 to complete the transaction.

Last year, the company acquired a 45 percent stake in the outstanding capital stock of BOO Phu Ninh Water Treatment Plan Joint Stock Company (PNW), a water company in Vietnam which supplies water in urban areas, industrial zones and adjacent rural areas in

 the Quang Nam province in Vietnam.

MPIC also has investments in Vietnam’s toll road company, CII B&R.