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- Mitsui & Co., Ltd.
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Thai Tap Water Supply Public Company Limited ("TTW"), a joint venture between Mitsui & Co., Ltd. ("Mitsui") and Ch.Karnchang Public Company Limited ("CHK", established and registered in Thailand), in which Mitsui holds a 35% share, has expanded its tap water business in Thailand by acquiring 98% of the issued shares of Pathum Thani Water Co., Ltd ("PTW"). PTW was previously owned by CHK and other shareholders.
PTW has been supplying tap water in Pathum Thani Province, located to the north of the suburbs of Bangkok, to the Provincial Waterworks Authority of Thailand ("PWA") from 1998, based on a long term (25 years) water supply agreement. Tap water demand in Pathum Thani Province, which is a growing bedroom suburb of Bangkok, is steadily increasing, because of recent robust housing developments and the Government of Thailand's stronger restriction on the use of ground water in order to prevent further ground settlement and environmental pollution.
After the acquisition by TTW of PTW, TTW will expand its tap water supply capacity up to about 700,000 m3/day by March 2008. This expanded capacity will equal as much as one third of the total tap water supplied by PWA, which operates throughout the whole of Thailand except in the Bangkok metropolitan area, thereby making TTW one of the largest tap water supply companies in South East Asia. Mitsui intends to continue and strengthen its cooperation with CHK, and to expand its water business in Thailand and neighboring countries.
Mitsui views infrastructure business as a priority investment segment and has been steadily acquiring prime assets in the power, water and other infrastructure sectors. In the water sector, in addition to tap water business in Thailand, Mitsui has invested in a tap water supply BOT project in Izmit City, Turkey and tap water supply and waste water treatment BOT projects and industrial waste water treatment project in Mexico. As water resources become more and more important all over the world, Mitsui believes that, technically and financially, efficient water projects utilizing private sector capabilities will contribute significantly to the social welfare of people, and the company aims to further develop its water business in the growing regions such as Asia, Europe and Latin America.
|Project Summary||Raw water abstraction, water treatment and tap water supply to PWA based on BOO scheme in Nakhom Pathom and Samut Sakhorn Provinces located west of Bangkok|
|Project Period||30 years (2004～2034)|
|Major Facilities||Raw water intake, water treatment plant, trunk main and distribution water pipes|
|Shareholders||Ch. Karnchang Public Company Limited 47.7%
Mitsui Water Holdings (Thailand) 35.0%
Bangkok Expressway Public Company Limited 12.5%
Bangkok Bank Public Company Limited 2.5%
TMB Bank Public Company Limited 2.3%
|Project Summary||Raw water abstraction, water treatment and tap water supply to PWA based on BOT scheme in Pathum Thani Province located north of Bangkok|
|Capacity||288,000 m3/day (390,000 m3/day from March 2008)|
|Project Period||25 years (1998～2023)|
|Major Facilities||Raw water intake, water treatment plant, trunk main water pipes|
|Shareholders||Thai Tap Water Supply Public Company Limited 98%
Provincial Waterworks Authority (PWA) 2%
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
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