WHAUP Invests ฿2.7bn in“SDWTP” to Supply Water for Business Expansion in Vietnam

WHA Utilities and Power Public Company Limited (WHAUP) has approved WHAUP (SG) 2DR PTE. LTD. (WUPSD), a subsidiary of WHAUP (SG) 1 PTE. LTD., to enter into a Share Purchase Agreement (SPA) with Mr. Do Tat Thang, a shareholder of Duong River Surface Water Plant Joint Stocks Company(SDWTP), a water supplier in Hanoi, Vietnam, to buy 33,986,774 shares amounting to 34.00% of total shares in SDWTP. The total value of transactions is approximately THB 2,762.96 million which WHAUP expects the signing date will be held on 9 August 2019. The completion of this transaction is subject to certain conditions precedent as specified in SPA.

This investment marks another important step for WHAUP utility business expansion in CLMV, especially in Vietnam, as part of our long-term investment target. Moreover, it is also in line with our strategic plan to expand the utility business outside WHA Group’s industrial estates. WHAUP expects the profit sharing and dividend received from the project based on the percent of shares.

SDWTP was established in 2016 and became one of the main water suppliers in Hanoi. Currently, the project’s capacity is 54,750,000 cubic meters per year for phase 1A which has commenced operation since the first quarter of 2019. SDWTP is undergoing the phase 1B expansion of another 54,750,000 cubic meters per year, which is scheduled to commercially operate in the fourth quarter of 2019. By year-end 2019, the total capacity of SDWTP will be 109,500,000 cubic meters per year.