WHAUP Expands Overseas Water Business in Vietnam via its newly established subsidiary by obtaining the exclusivity rights to invest and operate water business in WHA Hemaraj Industrial Zone - Nghe An

Stocks and Financial Services Press Releases Wednesday May 30, 2018 14:36
Bangkok--30 May--Media Planner Consultants

WHA Utilities and Power PLC. (WHAUP) announces an establishment of its subsidiary to invest and operate water business in WHA Hemaraj Industrial Zone – Nghe An Province, Vietnam with the business license for 49 years until 29 May 2067. Wisate Chungwatana, WHAUP CEO revealed its continuous investment plan that the initial stage will be the development of water utilities in WHA Hemaraj Industrial Zone - Nghe An, Phase 1, covering total area of 498 hectors (3,112.5 Rai). The demand for industrial water and wastewater treatment is estimated around 12,000 cubic meters per day and 9,600 cubic meters per day, respectively.

Mr. Wisate Chungwatana Chief Executive Officer of WHA Utilities and Power PLC., (WHAUP), a leading fully integrated utilities services provider in WHA's industrial estates and industrial lands i.e. raw water, industrial water, wastewater treatment and power business aiming to invest in Thailand and overseas, reveals that the Board of Directors of the Company has approved the establishment of a new subsidiary namely 'WHAUP Nghe An Joint Stock Company' to invest and operate water business in Vietnam with its first project in WHA Hemaraj Industrial Zone – Nghe An, Vietnam.

The new subsidiary 'WHAUP Nghe An Joint Stock Company' under WHAUP has signed the Joint Agreement with 'WHA Hemaraj Nghe An Joint Stock', a subsidiary of WHA Corporation Plc. by obtaining the right to invest and operate the water utilities services in WHA Hemaraj Industrial Zone – Nghe An, Vietnam for 49 years, from the land handover date until 29 May 2067. This is WHAUP's first step to expand its business into the international market, especially in CLMV countries as part of WHAUP's long-term strategic investment plan.

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