CII is a leading player in the infrastructure sector in Vietnam with a solid track record in sourcing, implementing and operating infrastructure assets. The company has a portfolio of strategic infrastructure assets, including water treatment plants and toll roads serving Ho Chi Minh City and surrounding areas. CII also holds a stake in Thu Duc Water BOO Corporation, a water treatment company which is now 49%-owned by MWC. Cll was established in December 2001 and is listed in the Ho Chi Minh Stock Exchange.
Kenh Dong was established in 2003 to build, own, and operate major water infrastructure in Ho Chi Minh City. Its water treatment plant is expected to start commercial operations by the second semester of 2012 with a capacity of 200 million liters per day ("mld"). This is expected to benefit the suburban districts of District 12, Tan Phu and Binh Tan, where water coverage is very low, averaging at about 50% of the population. Currently, Kenh Dong has a bulk water supply contract with Saigon Water Corporation ("SAWACO") for a guaranteed volume of 150mId. SAWACO is the state-owned enterprise managing the water supply system in Ho Chi Minh City.
In addition to water infrastructure, Cll holds toll road concession agreements such as the 15.7-kilometer expansion of the existing Ha Noi Highway which connects the northeastern part of Ho Chi Minh City to Bien Hoa, an industrial center located in the southern part of Vietnam. CII is looking to invest further in new water infrastructure initiatives and is eyeing expansion into other types of infrastructure projects such as public transportation terminals.
Mr. Fernando Zobel de Ayala, Ayala Corporation President and Manila Water Chairman said, "This investment primarily supports and complements the expansion of Manila Water Co. as it gradually builds its presence in Vietnam. At the same time, this also provides strategic access to other related infrastructure opportunities which may be of value to the group. We recognize Vietnam is a high growth area in the region and there is strong demand for infrastructure investments. This may potentially present opportunities for the Ayala group to establish presence across several sectors."
The transactions are subject to customary closing conditions, including compliance with Vietnam laws.
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