Manila Water subsidiary buys stake in Vietnam water supplier

The Vietnam-based subsidiary of Ayala-led Manila Water Co. Inc. has acquired a substantial stake in Thu Duc Water BOO Corp., said to be the largest private bulk-water supplier in south Vietnam.   In a statement to the Philippine Stock Exchange on Thursday, Manila Water said its subsidiary Thu Duc Water Holdings Pte. Ltd. has signed an agreement with Ho Chi Minh City Infrastructure Investment Joint Stock Company to acquire its 49-percent ownership in TDW BOO Corp.   TDW BOO Corp. is a Vietnamese joint stock company established in 2004.   "It has a bulk water supply contract with the Saigon Water Corp. with a minimum billed volume of 300 million liters per day," Manila Water said.   Manila Water, which supplies water to Metro Manila's east zone, has been seeking to expand outside its concession.   In November, the company signed an agreement to acquire 100 percent of the outstanding capital stock of Clark Water Corp. [http://www.gmanetwork.com/news/story/237816/economy/companies/manila-water-to-acquire-clark-water-concessionaire], the water concessionaire for the Clark Freeport Economic Zone in Pampanga.   Manila Water also disclosed it is seeking projects in India. — CMA/KG/VS, GMA News