Japanese firm invests in Vietnamese water treatment facilities
VOV.VN - FE Holdings, a subsidiary of JFE Engineering of Japan, has spent a total of JPY900 million, equivalent to US$8.6 million, in an effort to acquire a 3.87% stake in the Binh Duong Water Environment JSC of Vietnam (Biwase).
This comes as part of efforts by the Japanese enterprise to tap into the strong demand that exists for water treatment infrastructure in the nation.
JFE have already been contracted to develop two waste water treatment plants in the country, both of which will make use of the Far Eastern nation’s official development assistance programme.
According to Nikkei Asia, partnering up with Biwase, a firm that operates a total of eight water treatment plants and a waste disposal facility in the southern province of Binh Duong, will provide the Japanese firm with opportunities to gain additional orders. Indeed, the move will help to expand existing Biwase facilities as well as boosting the construction of other waste disposal and recycling plants.
Moving forward, JFE is poised to begin recruiting local engineers, sales staff, and other personnel, whilst it is looking to increase its annual revenue from the Vietnamese market to JPY10 billion over the course of the next decade, from a figure of approximately JPY2 billion in 2019.