WHAUP Forms Joint Venture with Asia Industrial Estate to Provide Demineralized Water to the First Client in 2022

Bangkok - WHA Utilities and Power Plc (WHAUP) has announced the establishment of WHAUP Asia Reclamation Water, a joint venture with Asia Industrial Estate (AIE). With a registered capital of THB 45 million, the new company will produce and distribute water utilities services. Its first customer will be a chemical factory in Asia Industrial Estate (Map Ta Phut), under a 15-year contract worth over THB 420 million. This illustrates once again WHAUP’s commitment to become a leading provider of integrated utilities and power services.

Dr. Niphon Bundechanan, WHAUP Chief Executive Officer, revealed that the company’s Board of Directors approved a resolution to assign WHA Water (WHAWT), a subsidiary in which WHAUP holds a 99.99% stake, to form a joint venture with Asia Industrial Estate, called “WHAUP Asia Reclamation Water Company Limited” (WHAUP AIE). The new JV will provide Asia Industrial Estate customers with recycled water, demineralized water and other products and services. WHAWT will hold a 60% stake and Asia Industrial Estate the remaining 40% in the newly-formed company, with a registered capital of THB 45 million.

The company sees this partnership as a mutually beneficial collaboration in line with its strategy to further develop its utilities and power businesses both inside and outside WHA Group’s 11 industrial estates. This will serve its aim to become Asia’s leading provider of integrated utilities and power services.

“WHAUP is committed to provide water utilities services and gradually develop value-added products, ranging from demineralized water to premium clarified water to serve the demand of industrial operators both inside and outside WHA Group’s industrial estates. This will be an alternative for industrial users to use quality water in accordance with their production objectives,” said Dr. Niphon Bundechanan.

WHAUP Asia Reclamation Water (WHAUP AIE) is currently in the process of finalizing an agreement to provide demineralized water to its first customer located in Asia Industrial Estate (Map Ta Phut). The 15-year agreement is valued at over THB 420 million, with an option to renew for another 15 years. With a capacity of over 1 million cubic meters per year, the company expects to start water distribution in the fourth quarter of 2022.

Mr. Chali Sophonpanich, President of Asia Industrial Estate Co., Ltd., said “We are glad to establish this joint venture with a subsidiary of WHAUP. This collaboration will help us provide a variety of water services and, at the same time, answer our customers’ queries on water reliability in Asia Industrial Estate. With the demand for demineralized water in industrial estates expected to rise, WHAUP and AIE share the same goal and determination to develop utility services for operators in industrial estates and maintain a good environment”.