GS Inima acquires 30% stake in Phu My Vinh Construction & Investment JSC (PMV), supplier of industrial water in the province of Long (Vietnam)

GS Inima ha adquirido una participación del 30% en Phu My Vinh Construction & Investment JSC (PMV), proveedora de agua industrial en la provincia de Long, en el sur de Vietnam.

GS Inima has acquired a 30% stake in Phu My Vinh Construction & Investment JSC (PMV), an industrial water supplier in the province of Long in southern Vietnam. Founded in 2014, PMV is a water treatment company that operates the Hoa Khanh Tay water supply plant in the province of Long An, located alongside the city of Ho Chi Minh. GS Inima holds a 30% stake in PMV, while Malaysian water treatment company RBC Water also has a 30% shareholding. The remaining 40% is held by individual Vietnamese investors.

The transaction, which required investment of $13.6 million on the part of GS Inima, is the culmination of a process that began in 2021. Vietnam is the fourth largest economy in ASEAN (Association of Southeast Asian Nations with 10 member states). Following its entry into the South American and Middle Eastern markets, GS Inima’s acquisition of this stake in PMV confirms its commitment to the Southeast Asian water treatment market in general and Vietnam in particular.

“This acquisition represents a further effort by GS Inima to diversify, expand our portfolio and strengthen our know-how in the strategic industrial water segment in the Asian market. The partnership with PMV will boost our competitiveness and give us opportunities to achieve our goals even more quickly within the Asian market. We have already entered Asia through our desalination project contract in Daesan, South Korea and we are pretty sure that we are on the right path to achieve sustained growth”, said Diego de Vera Molero, International Business Development Director at GS Inima.

With regards to subsequent steps, GS Inima finds itself at the beginning of a new phase where it will endeavor to strengthen its know-how of the market. The majority of PMV contracts are long-term (50 years) and, given, Vietnam’s fast-growing economy, the demand for industrial water treatment and supply is expected to increase significantly, making it a stable business with growth potential.