Manila Water enters Thailand to boost growing ASEAN presence
Manila Water continues to make its presence felt in the ASEAN region after it signed a Share Purchase Agreement to acquire an 18.72 percent stake in Eastern Water Resources Development and Management Public Company Limited (East Water), a publicly listed water supply and distribution company in Thailand.
This is Manila Water’s first point of entry into Thailand as part of the company’s ongoing expansion in Southeast Asia.
“Manila Water marks another milestone in its regional growth, as it establishes its presence in Thailand through East Water. We recognize the opportunities this new market presents for us, and we are eager to share the technical expertise and service quality which Manila Water has developed over the last twenty years,” said Ayala President and COO Fernando Zobel de Ayala.
“From the conglomerate perspective, Ayala sees this development as a strategic entry point into Thailand. With Manila Water leading the way, we hope to leverage our various capabilities to enlarge our footprint in the country,” Zobel, who also serves as Manila Water Board Chairman, added.
East Water provides raw and tap water supply services in the eastern region of Thailand—the country’s main industrial area and home to various heavy industries, including automotive, electronics, and petrochemicals.
Currently, East Water provides raw water supply to three provinces; holds concession contracts to operate in 11 different locations, and provides water service to several industrial estates.