6 November 2020
JFE Engineering Corporation
JFE Engineering Corporation (President and CEO: Hajime Oshita, Head Office: Chiyoda-ku, Tokyo) has signed a Memorandum of Understanding (MOU) for Business Alliance with Binh Duong Water Environment Joint Stock Company (BIWASE, Chairman of the board: Nguyen Van Thien, Head Office: Binh Duong province, Vietnam) and acquired its 3.87% of shares at an auction held on 06 October 2020 by Hồ Chí Minh stock exchange (Hose).
BIWASE is a leading water supply and environmental service company in Vietnam having eight water treatment plants (Capacity: 396,500㎥ per day of fresh water in total) and a waste disposal site (Capacity: 3,000 tons of waste per day) in Binh Duong province, and providing operation and maintenance service（O&M）to wastewater treatment plants owned by local government.
In Vietnam, JFE Engineering Corporation has delivered Hòa Lạc wastewater treatment plant (Capacity: 36,000㎥ per day, COD: May 2020) and been delivering Yên Xá wastewater treatment plant under EPC (Engineering, Procurement, Construction) contracts. JFE Engineering Corporation will cooperate with BIWASE on improving facilities capacity in water supply sector, and development of wastewater treatment and solid waste recycling/ treatment business including O&M services, in order to respond to continued demand caused by strong economic growth in Vietnam.
JFE Engineering will expand EPC service for water and wastewater treatment business as well as try to participate in O&M business for these areas to achieve the Sustainable Development Goal 6 : Ensure availability and sustainable management of water and sanitation for all in Asia.
Company profile of BIWASE
| Headquarter | Binh Duong province, Vietnam |
|---|---|
| Establishment | 1975 as a governmental company |
| Shares | Listed in Hồ Chí Minh stock exchange since 2016 |
| Representative | Nguyen Van Thien (Chairman of the Board) |
| Financial Result at 31 December 2019 | Revenue ：109 million USD Net worth : 95 million USD |
For inquiries regarding this press release, please contact
- Public Relations Section, General Administration Department, JFE Engineering Corporation