WHAUP Joins Forces with Aquaone to Develop Water Infrastructure in Vietnam

Bangkok, September 16, 2019, WHA Utilities and Power Plc. (“WHAUP”) and Aquaone Corporation held the signing ceremony of the Strategic Cooperation Agreement under the witness of H.E. Tanee Sangrat, Ambassador of Thailand to Vietnam and H.E. Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry.  This is the first milestone that highlights long-term cooperation between the two conglomerates.  Last August 2019, WHAUP (SG) 2DR PTE. LTD. (WUPSD), WHAUP’s wholly-owned subsidiary, signed the Share Purchase Agreement with Duong River Surface Waterplant Joint Stocks Company (“SDWTP”) to acquire a 34% stake, valued at approximately THB 2,762.96 million.

“In Vietnam, with rapid expansion of the economy, demand for environment business such as water production and waste water treatment is huge.  The mission of Aquaone is to be the pioneer in the sector and provide services for every single citizen in Vietnam. We are very happy and honor to have WHAUP as our partner to fulfill that mission.” Ms. Do Thi Kim Lien, Chairwoman of the Board of Directors of Aquaone Corporation commented on the signing ceremony.

Ms. Jareeporn Jarukornsakul, Chairman and Group Chief Executive Officer, WHA Corporation PCL. said, “Today is an auspicious moment as it is the date of which Aquaone and WHAUP start our long-term collaboration to develop water infrastructure business in Vietnam.  The Strategic Cooperation Agreement marks a significant step for Aquaone and WHAUP to join hands in improving the quality of life of the people of Hanoi today via provision of quality clean water and we aim to expand the collaboration into other parts of Vietnam in the near future.”

 “This Strategic Cooperation Agreement between Aquaone and WHAUP, is another chapter for Vietnam-Thai investment cooperations in utilities business and pave the way for a new era in collaborations between the two countries” said H.E. Mr. Tanee Sangrat, Ambassador of Thailand to Vietnam.   

The signing ceremony was held just a day before the ceremony of Official Commercial Operation Date of Phase 1B of Duong River Water Treatment Plant on September 5, 2019 which applied the German technologyand will double the capacity of the plant from 55.0 million m3/year to 110.0 million m3/year.