Thailand's Water.Oil.Gas Group successfully exits Patong Wastewater Treatment Plant
- November 26, 2019
- Category: Technology, Investment and Finance, Environmental, Water Treatment, Global, Asia
Thailand-based WOG ITR Water Solution Company has been bought by Wiik Water Company Ltd- a subsidiary of Wiik & Hőglund Public Co.Ltd. The reuse water treatment plant(completed since 2014) was purchased for Thai Baht 300 million (USD 10 million).WOG will continue as minority partner with up to 10% revenue share agreement for the balance life of the concession.
WOG ITR is a Project SPV of WOG Group and had signed a contract for a 30-year concession with Patong Municipality (Phuket Province) on a Build, Own, Operate and Transfer (BOOT) basis. The project treats approximately 25,000 m3 per day of reused water which, after laying pipeline, is then recycled as clean, usable water to supply customers.
WOG Group, a leading water company with expertise in wastewater, water treatment and desalination projects, operates as an Engineering, Procurement and Construction company (EPC).The organization also builds and operates water treatment plants on BOOT, BOT, DBOT and BOO basis. WOG Group has implemented projects across South East Asia, South Asia, Middle East and the Caribbean applying exclusive water treatment technologies.
Wiik & Hőglund is the regional center for HDPE (High-density polyethylene) pipe in Asia and leader in the market for the last 30 years in the manufacturing of HDPE pipe and fittings. Involved in water resources management since 2016 the company has attained global recognition for its products and product quality control.
President of WOG Group , Sunil Rajan said:
“This is a milestone deal in the Thai water treatment industry. The sale of the project to Wiik Water creates new growth opportunities and opens new avenues for WOG Group. The deal marks the first successful exit for WOG from owned projects.”