FDC and Hitachi Signed JV Agreement for a New Water Solution Company

By Shin Kai

Acquisition or Partnership

Gotianun family-led Filinvest Development Corporation (FDC)and Hitachi Aqua-Tech Engineering Pte. Ltd., a subsidiary of Hitachi, Ltd. signed a joint venture agreement for a new water solution company to provide overall water solutions across the Republic of the Philippines. FDC is one of the Philippines' leading conglomerates that focuses on the "middle market" segment of the country's economy, one which it believes is underserved and has continuing high growth potential.

The new JV company to be established within this year and currently planned to be named as Filinvest-Hitachi Omni Waterworks, Inc. will locate its headquarters in Taguig City, Philippines. It will focus on water treatment engineering, including design, construction and installation (excluding civil engineering) and operation & maintenance businesses for both internal FDC projects as well as for external customers both in the public and private sectors.

FDC first gained experience through its existing water subsidiary, Countrywide Water Services, Inc. (CWSI), which distributes water to the various Filinvest real estate projects.  Hitachi Aqua-Tech brings its over 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.

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