Filinvest and Hitachi to set up water solutions JV in the Philippines
Philippine conglomerate Filinvest Development Corporation (FDC) and Hitachi Aqua-Tech Engineering Pte Ltd have signed a 60:40 joint venture agreement for a new water solutions company that will provide water solutions across the Philippines.
Filinvest-Hitachi Omni Waterworks Inc, the planned joint venture company, will have its head office in Taguig City, the Philippines. The business will provide water treatment engineering, including design, construction and installation, and operation & maintenance for water treatment facilities, including desalination, recycled water and sewage treatment for internal FDC projects and external customers in the public and private sectors.
“With the technical expertise of the Hitachi group and the nationwide reach of Filinvest, we look forward to solidifying our participation in the Philippines water industry,” said FDC president and CEO L Josephine Gotianun-Yap. “This partnership also complements our other investments in power and infrastructure,” added Gotianun-Yap.
FDC subsidiary Countrywide Water Services Inc (CWSI) already distributes water to various Filinvest real estate projects.
Hitachi Aqua-Tech, a subsidiary of Hitachi Ltd, brings more than 40 years of experience in the water industry to the partnership. Its projects in desalination, sewage treatment, water recycling and water feature developments are located in the Asia Pacific regions, including countries in the Indian Ocean, Pacific islands, South America, Africa and the Middle East.
“We are excited to join forces with the Filinvest group, share our expertise and provide much-needed water treatment solutions across the Philippines,” said Hideshi Nakatsu, CEO of Hitachi’s Water & Environment Business Unit.