Japan's JFE acquires shares of BIWASE to strengthen foothold in water treatment
Japan's JFE acquires shares of BIWASE to strengthen foothold in water treatment
JFE Engineering Corporation from Japan has signed an MoU for business alliance with Binh Duong Water Environment JSC (BIWASE) and acquired 3.87 per cent of its shares at an auction held on October 6 by the Ho Chi Minh City Stock Exchange.
JFE Engineering to sign an MOU for business alliance with BIWASE and acquire its shares
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BIWASE is a leading water supply and environmental service company in Vietnam, having eight water treatment plants with total capacity of 396,500 cubic metres a day of fresh water and a waste disposal site with a capacity of 2,500 tonnes of waste per day in Binh Duong province. BIWASE also provides operation and maintenance (O&M) services to wastewater treatment plants owned by the local government.
In Vietnam, JFE Engineering Corporation has delivered Hoa Lac wastewater treatment plant with a capacity of 36,000cu.m per day and has been involved as the engineering, procurement, and construction (EPC) contractor of the Yen Xa wastewater treatment plant.
JFE Engineering Corporation will cooperate with BIWASE on improving the capacity of facilities in the water supply sector and the development of wastewater treatment and solid waste recycling/treatment business including O&M services to respond to continued demand caused by strong economic growth in Vietnam.
JFE Engineering will expand EPC services for water and wastewater treatment business as well as try to participate in O&M operations in these areas to contribute to achieving the United Nations Sustainable Development Goal 6 to ensure the availability and the sustainable management of water and sanitation for all in Asia.
