Vietnam expects to see high demand for water treatment facilities.(Photo: https://asia.nikkei.com/) Tokyo (VNA) – The FE Holdings – a subsidiary of JFE Engineeringof Japan - has spent 900 million JPY (8.6 million USD) to acquire a 3.87 percent stake in the Binh Duong WaterEnvironment JSC of Vietnam (Biwase).
This is one of the Japanese firm’s steps to tap into strong demand for water treatmentinfrastructure in Vietnam.
JFE already has been contracted to build two wastewater treatment plants inVietnam, both through Japan's official development assistance programme.
According to Nikkei Asia, partnering with Biwase which operates eight watertreatment plants and a waste disposal facility in the southern province of BinhDuong will give the Japanese firm opportunities to pick up more orders,including expansion of existing Biwase facilities as well as the constructionof waste disposal and recycling plants.
JFE plans to start local recruitment of engineers, sales staff and otherpersonnel. It looks to grow its annual revenue from the Vietnamese market to 10billion JPY in the next decade, from about 2 billion JPY in fiscal 2019./.
VNA
