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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