With the partnership
with Biwase, JFE Engineering hopes to gain more orders, including projects to
expand Biwase’s existing plants and construct waste treatment plants.
JFE Engineering Japan
has just spent 900 million yen (8.6 million USD) to invest in Vietnam. The
Company purchase 3.87% stake in Binh Duong Water and Environment Joint Stock
Company (Biwase).
This is one of the
steps of JFE Engineering to tap into the demand for water treatment facilities
in Vietnam.
JFE Engineering has
participated in a tender to build two wastewater treatment plants in Vietnam.
Both factories use Japan’s official development assistance (ODA) capital.
According to Nikkei
Asia, with the cooperation with Biwase – the unit that are operating 8 water
treatment plants and one waste treatment plant in Binh Duong province, JFE
Engineering hopes to have more orders, including projects to expand Biwase’s
existing factories and construct waste treatment and recycling plants.
JFE Engineering plans
to recruit local engineers and salespeople to increase its staff in Vietnam by
10 more per year.
JFE Engineering hopes
to increase annual sales in the Vietnamese market to 10 billion yen over the
next 10 years from 2 billion yen in fiscal 2019.
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