Conglomerate Metro Pacific Investment Corp. completed the acquisition of a 49-percent stake in one of the largest water companies in Vietnam for P2 billion.
Metro Pacific said in a disclosure to the stock exchange wholly-owned unit MetroPac Water Investments Corp. finished the purchase of 37.926 million shares in Tuan Loc Water Resources Investment Joint Stock Company.
The transaction allows Metro Pacific to enter and expand into the Vietnam water market.
Tuan Loc Water is one of the largest water companies in Vietnam, with 310 million liters per day of installed capacity and a billed volume of approximately 87 MLD as of end 2017.
Majority of Tuan Loc Water’s 310 MLD of operating capacity will be supplied to industrial parks. It has three main project assets, including Song Lam Raw Water Treatment Plant with an installed capacity of 200 MLD and expandable to 300 MLD.