GS Inima Acquires Vietnamese Water Treatment Company... First Entry into Southeast Asia

A view of the Hoa Kanderi water treatment facility operated by Phu My Vinh Construction Investment Company (PMV) since 2016 in Long An Province, southern Vietnam. (Provided by GS Engineering & Construction)

[Asia Economy Reporter Kim Hyemin] GS Inima, a subsidiary of GS Engineering & Construction, has entered the Southeast Asian water treatment market by acquiring shares in a Vietnamese water treatment company.

On the 8th, GS Engineering & Construction announced that its Spain-based subsidiary GS Inima acquired a 30% stake in Phu My Binh Construction Investment Company (PMV), an industrial water supply provider in Long An Province, southern Vietnam.

PMV is a water treatment company operating two industrial water supply sites in Long An, adjacent to Ho Chi Minh City. GS Engineering & Construction explained the acquisition background, stating, "Most contracts are long-term, lasting 50 years, and with Vietnam's economic growth, demand is expected to increase significantly, making it excellent in both stability and growth potential."

Following GS Inima's share acquisition, the total ownership structure consists of GS Inima (30%), Malaysian water treatment company RBC (30%), and Vietnamese individual investors (40%).

Through this acquisition, GS Inima plans to expand its business scope globally along with entering the Asian water treatment market. In particular, GS Engineering & Construction is jointly conducting research with the Singapore Water Agency to commercialize the world's first 'seawater desalination renewable energy innovation technology,' developed in Singapore, a leading global water treatment market, which is expected to create synergy.

Heo Yunhong, Head of New Business Division at GS Engineering & Construction, emphasized, "With entry into the Vietnamese market, we have expanded our water treatment business to five continents excluding Oceania," adding, "We will solidify our position as a global leader in the water treatment sector, a future growth engine for GS Engineering & Construction and a representative eco-friendly business in the ESG era."

This content was produced with the assistance of AI translation services.