Spain-based corporation enters Vietnam’s water treatment market
GS Inima Environment, the water treatment subsidiary of Spain-based GS Engineering and Construction Corp. (GS E&C), has acquired a 30 percent stake of Phu My Vinh Construction & Investment JSC (PMV) – an industrial water supplier in the Vietnam's southern province of Long An.
An overview of Hoa Khanh Tay - a water treatment facility of Phu My Vinh Construction & Investment JSC (Photo: GS E&C)
Hanoi (VNA) - GS Inima Environment, the water treatment subsidiaryof Spain-based GS Engineering and Construction Corp. (GS E&C), has acquireda 30 percent stake of Phu My Vinh Construction & Investment JSC (PMV) – an industrialwater supplier in the Vietnam's southern province of Long An.
This move demonstrates the company’s effort to tap the SoutheastAsian water treatment market after its foray into the South American and MiddleEastern markets.
Specifically, GS Inima holds 30 percent, Malaysian watertreatment company RBC Water, 30 percent, and individual Vietnamese investorshave a 40 percent stake in the PMV - the owner and operator of two industrial watertreatment plants in Long An.
According to GS E&C, the demand for industrial watertreatment and supply is expected to increase sharply in the fast-growingVietnamese economy.
“The water treatment business is an important growth driverof GS E&C and a key player in the environmental, social and corporate governance era,” said Huh Yoon-Hong, the CEO ofGS E&C.
GS Inima previously entered the South American market byacquiring Brazil`s BRK Ambiental’s industrial water treatment business in 2019and entered the Middle East market by winning a seawater desalination projectin Oman in 2020./.
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An overview of Hoa Khanh Tay - a water treatment facility of Phu My Vinh Construction & Investment JSC (Photo: GS E&C) 
