The acquisition will bring new development opportunities within the Asian market and is in line with the strategy of GS Inima to increase its portfolio of long-term contracts.

Madrid, 16 of March of 2022.- GS Inima, a leader in the water treatment concessions sector, has acquired a 30% stake in Phu My Vinh Construction & Investment JSC (PMV), an industrial water supplier in Long province, southern Vietnam. Founded in 2014, PMV is a water treatment company that operates the Hoa Khanh Tay water supply plant in Long An Province, adjacent to Ho Chi Minh City. Thus, GS Inima owns 30 percent, Malaysian water treatment company RBC Water 30 percent, and individual Vietnamese investors hold the other 40 percent stake in PMV.

The operation, which involves an investment of 13,6 million dollars by GS Inima, is the culmination of a process that began in 2021. Vietnam is the fourth largest economy in ASEAN (10 countries in the Association of Southeast Asian Nations), and the acquisition of PMV's stake by GS Inima confirms its commitment to the water treatment market in Southeast Asia in general and in Vietnam in particular, after entering the markets of South America and the Middle East.

“This acquisition represents another effort by GS Inima to diversify, expand our portfolio and strengthen our know-how in the strategic segment of industrial water in the Asian market. The partnership with PMV will boost our competitiveness and provide us with opportunities to achieve our goals faster in the Asian market. We are already working in Asia with our desalination project contract in Daesan, South Korea and we are pretty sure we are on the right track to achieve sustained growth.”

Diego de Vera Molero

Director of International Business Development, GS Inima

As for next steps, GS Inima is at the beginning of a new stage in which its efforts will focus on real knowledge of the market. Most of PMV's contracts are long-term (50 years) and as Vietnam's economy is growing dynamically, the demand for industrial water treatment and supply is expected to increase significantly, making it a stable business with growth potential.