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Philippines: MPIC completes acquisition of Vietnamese water firm
MANILA, Philippines — Metro Pacific Investments Corp. (MPIC) has completed its acquisition of a 49 percent stake in a water utility giant in Vietnam, marking yet another global expansion by a Philippine-based company.
MPIC, the tollways and infrastructure conglomerate chaired by tycoon Manuel V. Pangilinan, through subsidiary MetroPac Water Investments Corp. (MPWC) sealed its purchase of a 49 percent stake in Tuan Loc Water Resources Investment Joint Stock Co. for P2 billion.
“The transaction allows MPIC (through MPW) to expand into Vietnamese Industrial Water Concessions,” MPIC said yestsreday.
Majority of TLW’s 310 million liters per day (MLD) of operating capacity will be supplied to industrial parks. TLW is one of the largest water companies in Vietnam.
The purchase involved 37.9 million shares from an existing shareholder of TLW for VND865.6 billion.
At present, TLW has three main project assets.
These are Song Lam Raw Water Treatment Plant, a 50-year build, operate own project with an installed capacity of 200 million liters per day but expandable to 300 MLD.
Song Lam RWP 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, a 50-year BOO project with an installed capacity of 90 MLD which is expandable to 120 MLD.
HCM WTP supplies treated water to Dong Nai Water Co.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 third major project is Nhon Trach 6A sewage treatment plant, a 50-year BOO with an installed capacity of 20 MLD expandable to 40 MLD.
MPIC said the parties have until June 30, 2018 to complete the transaction.
Source: https://www.philstar.com/business/2018/06/12/1823703/mpic-completes-acquisition-vietnamese-water-firm#0epPmVccMcMvyfi6.99