By The Nation
The agreement follows a share purchase agreement signed in August in which a wholly-owned subsidiary of WHAUP will acquire a 34-per-cent stake in Duong River Surface Water Plant Joint Stocks Company (SDWTP), valued at approximately Bt2.76 billion.
"In Vietnam, with rapid expansion of the economy, demand for environmental businesses such as water production and waste water treatment is huge,” Do Thi Kim Lien, chairwoman of the board of directors of Aquaone Corporation, said at the signing ceremony.
“The mission of Aquaone is to be the pioneer in the sector and provide services for every single citizen in Vietnam. We are very happy and honoured to have WHAUP as our partner to fulfill that mission.”
Jareeporn Jarukornsakul, chairman and group chief executive of WHA Corporation PCL, said, “Today is an auspicious moment as it is the date on which Aquaone and WHAUP start our long-term collaboration to the develop water infrastructure business in Vietnam. The strategic cooperation agreement marks a significant step for Aquaone and WHAUP to join hands in improving the quality of life of the people of Hanoi today, via provision of quality clean water. We aim to expand the collaboration into other parts of Vietnam in the near future.”
Thailand’s Ambassador to Vietnam, Tanee Sangrat, said, “This strategic cooperation agreement … is another chapter for Vietnam-Thai investment cooperation in utilities businesses and paves the way for a new era in collaborations between the two countries.”
The signing ceremony was held just a day before a ceremony of kicking off the official commercial operation of phase 1B of the Duong River Water Treatment Plant on September 5. The project draws on German technology and will double the capacity of the plant from 55.0 million cubic metres per year to 110.0 million.