The buy-in deal, which is done through wholly-owned subsidiary MetroPac Water Investments Corp., allows the Metro Pacific group led by businessman Manuel V. Pangilinan to expand into Vietnamese industrial water concessions, announced Metro Pacific Investments on its website.
Nhon Trach 6 Industrial Park.
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The biggest project of TLW is the Song Lam Raw Water Treatment Plant, a 50-year build-own-operate project (2015-2064) with an installed capacity of 200 MLD expandable to 300 MLD. This plant supplies raw water to Nghe An Water Supply JSC and surrounding industrial parks.
Nghe An Province is the largest province in Vietnam by area with a population of about 3.1 million people.
Another major asset is Ho Cau Moi Water Treatment Plant, a 50-year build-own-operate project (2017-2066) with an installed capacity of 90 MLD expandable to 120 MLD. This plant supplies treated water to Dong Nai Water Co. and surrounding industrial parks.
Dong Nai Province is the manufacturing satellite of Ho Chi Minh City and will be the location of the Long Thanh International Airport, which can serve 100 million passengers. Dong Nai Province has a population of about 2.9 million.
The third major asset of TLW is Nhon Trach 6A Sewage Treatment Plant, a 50-year build-own-operate project (2017-2066) with an installed capacity of 20 MLD expandable to 40 MLD. This is the wastewater treatment facility for the 400-hectare Nhon Trach 6 Industrial Park in Dong Nai Province.
The total consideration of VND865.6 billion (equivalent to P1.99 billion) took into account the value of the assets and the business of the company.
The deal is subject to the satisfaction of customary closing conditions. Under the share purchase agreement, the parties have until June 30, 2018 to complete the transaction.
Vietnam saw a record US$35.88 billion FDI in 2017, up 44.4% from the previous year, according to reports from the Foreign Investment Agency under the Ministry of Planning and Investment. The reports showed that of the total US$35.88-billion of full-year FDI, US$21.27 billion came from 2,591 projects, up 42.3% from 2016. Among some of the mega projects in 2017 were three BOT thermal power projects.
