Financial News
Darco's Vietnam Clean Water Supply Project Commences Operations
June 19, 2023 at 03:00 AM EDT
SINGAPORE, June 19, 2023 - (ACN Newswire) - Darco Water Technologies Limited, a provider of integrated engineering and expertise-driven solutions for water treatment, wastewater management, clean water supply and vacuum solid waste management, announced the completion of the first phase of its water treatment and clean water supply project in Ba Lai district of Vietnam's Ben Tre Province, and the commencement of operations. It will supply 5,000m3 of clean water per day for up to 20,000 rural households. Upon completion of the second phase construction of the project in 2024, the plant will supply 15,000m3 of clean water a day to more households and industrial areas in the district of Ba Tri township and region of 15 communes in Ben Tre Province.
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| Grand opening ceremony of Darco Ba Lai Water Treatment Plant |
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| Darco Ba Lai's donation of stationery supplies to 13 schools in 6 communes of Ba Tri District |
The DBOO project is a joint venture (JV) with InfraCo Asia, a commercially managed infrastructure development and investment company of the Private Infrastructure Development Group (PIDG). On 17 June 2023, Darco and InfraCo Asia jointly organized a grand opening ceremony of Darco Ba Lai Water Treatment Plant to officially announce its commencement of operations. Distinguished guests at the event included the Chairman of the Ben Tre People's Committee, local government authorities, and representatives from the Singapore, Netherlands, and Australian Consulate Generals in Ho Chi Minh City.
The project has a 50-year lease from the Vietnam government commencing July 2017. According to the World Bank's Global Partnership for Results-Based Approaches (www.gprba.org), approximately 74% of the Vietnamese population is concentrated in rural areas, yet only 48% of households have access to clean water and must rely on polluted sources for basic household needs during the dry season." On 3 January 2022, Deputy Prime Minister, Mr Le Van Thanh, signed a decision approving the National Rural Clean Water Supply and Sanitation Strategy to supply 65% of rural residents with affordable clean water by 2030, and 100% of all rural residents by 2045. ( https://en.vietnamplus.vn/national-strategy-aims-to-provide-clean-water-to-rural-residents-by-2030/220029.vnp )
Darco's corporate ethos views ESG and CSR as inextricably tied to its business
The success of the Ba Lai project will showcase Darco's capabilities and present more opportunities for similar projects in Vietnam. However, Darco's Executive Chairman, Mr. Wang Zhi said, "More business is good for Darco, but we do not forget our commitment to give back to Society. We work hard to incorporate ESG and CSR initiatives into all our projects. We organized activities to interact with the local community and donated home and school supplies to the needy. There will be more to come."
InfraCo Asia's CEO, Ms. Claudine Lim said, "In partnering with Darco for the development of the Ba Lai project with, we found a partner with a complementary capability when it comes to technical skill sets and sector knowledge. Working together, we are proud to bring a water treatment plant online that will supply water to people in the surrounding communities, meeting international Health, Safety, Environmental, and Social (HSES) standards."
About Darco Water Technologies Limited
Darco Water Technologies Limited ("Darco" and with its subsidiaries "the Group") was founded in 1999 and listed on the Singapore Exchange in 2002. Darco is a provider of integrated engineering and expertise-driven solutions for water treatment, wastewater management, clean water supply and vacuum solid waste management. It has a well-established presence in China, Malaysia, Singapore, and Vietnam, with a track record of projects delivered on time, on budget, and with high quality. Darco's scope of work includes design, fabrication, assembly, installation, and commissioning, as well as Design, Build, Own, Operate ("DBOO") projects. The Group generates additional revenue from post-EPC ("Engineering, Procurement, and Construction") maintenance services, which are supported by the service centres of its trading division, which supply essential chemicals and other products required for maintenance servicing. For more information, please visit www.darcowater.com.
About InfraCo Asia and The Private Infrastructure Development Group (PIDG)
InfraCo Asia is a commercially managed infrastructure development and investment company of the Private Infrastructure Development Group (PIDG). Headquartered in Singapore, InfraCo Asia catalyses greater private sector investment in infrastructure across South and Southeast Asia by providing funding and development expertise. InfraCo Asia funds early-stage development activities to realise socially responsible and commercially viable infrastructure that contributes to sustainable and inclusive economic growth. InfraCo Asia is currently funded by four members of PIDG - the governments of the United Kingdom, the Netherlands, Switzerland and Australia. For more information, please visit www.infracoasia.com
The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 190 infrastructure projects to financial close which provided an estimated 220 million people with access to new or improved infrastructure. PIDG Technical Assistance (TA) can provide technical assistance and capital grants to the PIDG companies to meet a range of needs associated with an infrastructure project's life-cycle. PIDG TA can also provide up-front viability gap funding grants to support PIDG projects that require concessional funding to make a project with strong development impact financeable. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC. For more information, visit www.pidg.org.
Issued on behalf of Darco Water Technologies Limited
By Waterbrooks Consultants Pte. Ltd. https://www.waterbrooks.com.sg/
For media enquiries, please contact:
Wayne Koo
+65 9338 8166
wayne.koo@waterbrooks.com.sg
Calvin Soon
+65 9199 0841
calvin@waterbrooks.com.sg
Source: Darco Water Technologies Limited
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