On February 1, Huvis Water (CEO In-yool Shin, www.huviswater.com), the No. 1 water treatment system company in Korea, announced that it won the contract for construction of water and waste water treatment facilities in the dyeing industrial complex, which is under construction in the Tay Ninh Province in the southwestern part of Vietnam.
 
On December 30, an MOU was agreed to between Huvis Water and TMTC Industrial Complex Development Ltd., Taekwang’s Vietnamese subsidiary, which pertains to the construction work of the water treatment facility in the 600,000-pyeong dyeing industrial complex. The construction period is expected to last 18 months and at a total cost of approximately $20 million.
 
In the first stage of this project, a waste water treatment plant with a treatment capacity of 20,000㎥/day and a water treatment plant with a treatment capacity of 19,000㎥/day will be constructed. As there is a high likelihood to win the contract for construction of the water treatment plant and its routine maintenance and operations, which is planned for the second stage, the size of the contract is expected to be much larger.
 
To gain traction in the Vietnamese water treatment market, which is growing rapidly by more than 10% a year on average, Huvis Water established a Vietnamese subsidiary, Huvis Water Vietnam, on January 19. Starting with the construction of water treatment plants in the dyeing industrial complex, Huvis Water is planning to further accelerate its effort to win contracts for water treatment projects by engaging in Vietnamese national projects.
 
In-yool Shin, CEO of Huvis Water, said, “We will transcend merely sustaining our existing water treatment facilities for power plants, diversify our business model to encompass various water treatment areas, such as industrial water/waste water treatment and public waterworks and sewage treatment, make inroads into overseas markets, including Vietnam and China, and thus transform ourselves into a global water treatment company.”
 
In November 2014, Huvis Water, a subsidiary of Huvis (CEO Bae-Keun Yoo, 079980), is a leading company in the water treatment industry which conducts water treatment construction work for most domestic power plants. It possesses a variety of core technologies related to water treatment, such as water and waste water treatment technology and the seawater desalination.