Thailand-based Wiik Water acquires WOG ITR Water Solution Company

Thailand-based Wiik Water Company, a subsidiary of Wiik & Hoeglund Public Company, has acquired WOG ITR Water Solution Company for TBH300m ($10m).

WOG Group expects to tap new opportunities of growth and avenues following this deal.

WOG Group president Sunil Rajan said that the transaction represents its exit from owned projects. Further, the deal will help the firm to boost its financial capabilities and provide capital to invest in projects across the world.

Established in 2012, WOG ITR is a project SPV of WOG Group. It had signed a 30-year concession with Patong Municipality in the Phuket province of Thailand. This concession is based on build, own, operate and transfer (BOOT) model.

Following this deal, WOG will stay as a minority partner with up to 10% revenue share agreement for the remaining life of the concession.

With a capacity of 25,000 m3 per day, WOG ITR’s facility, which was completed in 2014, treats wastewater and converts it into reusable water for supply to customers through pipelines. The plant currently caters to hotel chains, mall operators and resorts.

With expertise in wastewater, water treatment and desalination projects, WOG Group has been implementing projects in the Carribean, South East Asia, South Asia, Middle East.

Apart from building and operating water treatment plants on BOOT, BOT, DBOT and BOO basis, WOG  Group also operates as an engineering, procurement and construction company (EPC).

Listed on stock exchange, Wiik & Hoeglund forayed into the water  resources management business in 2016 to cater to the industrial sector.