Oman eyes highway, water works in Vietnam

17:30 | 13/09/2015 Investment

Oman plans to increase investment in highway and water supply projects in Vietnam, the Middle Eastern emirate's sovereign wealth fund said.

Oman eyes highway, water works in Vietnam

The signing ceremony between Vietnam-Oman Investments JSC, Manila Water Company and SII. Photo: VOI

The State General Reserve Fund of Oman signed an agreement of strategic cooperation for water infrastructure investment in Vietnam on August 31 between the fund's Vietnam-Oman Investments JSC (VOI), Manila Water Company (MWC) and Saigon Water Infrastructure Corporation (SII) – a subsidiary of HCM City Infrastructure Investment JSC (CII).

Most of the projects will be in or around HCM City.

Under the agreements, VOI is committed to invest in a number of SII's joint projects such as highway projects or safe water supply projects.

Meanwhile, the Manila Water Company, a leading private company of the Philippines with a total capital of around 10 billion USD, committed to support SII in technical areas and management, particularly in water supply network management.

VOI was founded in 2009 as a joint venture between the two sovereign wealth funds of Oman and Vietnam: the State General Reserve Fund of Oman (SGRF) and the State Capital Investment Corporation of Vietnam (SCIC).

VOI mainly focuses in long term and value investments in growth sectors such as power plants, toll roads, water supply, ports and logistics, consumer goods, health care, agriculture, and manufacturing.

The HCM City Infrastructure Investment JSC (CII) is the leading infrastructure developer and operator in HCM City and in the south of Vietnam with market capitalisation of 220 million USD and a portfolio of strategic infrastructure assets of around 1.5 billion USD persified in bridges and roads, water supply and distribution, industrial zones and property development./.

Source: VNA