Tay Ninh Wassco: Support and Development for Better Life

10:44:10 AM | 12/6/2019

Upholding the 45-year tradition of development, Tay Ninh Water Supply Sewerage Joint Stock Company (TNW) has always paid attention to investing for strong development, expanding water supply capacity and improving water quality, and ensuring quality water and social security to people in Tay Ninh province.

Before April 30, 1975, TNW was the Tay Ninh Water Supply Center under the National Water Supply Department of Saigon. After the national reunification, it was renamed to Water Supply Enterprise under the Tay Ninh Construction Department. In 1996, it was renamed Tay Ninh Water Supply and Sewerage Co., Ltd administered by the Tay Ninh Provincial People’s Committee. In 2014, the company went public and completed its equitization on March 2, 2016 to be operated as a joint stock company where the State held 52% of stake. On January 4, 2017, its shares (ticker: WTN) were officially floated on the local stock exchange. In 2018, the State slashed its holdings by 17%. In 2019, TNW planned to divest the remaining 35%.

TNW’s water supply service network now covers six out of nine districts and cities in Tay Ninh province, with a total designed capacity of 31,200 cubic meters a day. The company is managing and supplying water to more than 33,000 customers who use nearly 10 million cubic meters a year, of which household tap water accounts for over 70%.

In addition to its efforts to increase water supply capacity, TNW has also improved the existing water supply network and invested in expanding the water supply network in densely populated areas. The firm is administering nearly 400 km of pipes. At present, 49.78% of urban population have access to tap water. Besides, the company has constantly improved water quality, and stably supplied quality water around the clock according to QCVN 01-1:2018/BYT standard.

After three years operating as a joint stock company, with advantages and challenges in combination, despite hardships, TNW has managed to fulfil its tasks to ensure standard water supply for enterprises and residents. Without doubt, equitization has created new motivation and new aspiration to change the way of thinking and doing. The leadership and the staff of TNW have gradually improved their executive management competence to fulfil all tasks assigned to the company.

In the coming time, TNW will streamline its management apparatus, improve personnel quality to enhance labor productivity, reduce costs, and raise the material and spiritual life of employees. The firm’s business results are stable, with VND55 billion of revenue in 2018. TNW expects annual revenue to reach hundreds of billions of Vietnamese dong from the current tens of billions of Vietnamese dong. Water loss ratio has been reduced steadily year after year, to 17.84% in 2018.

The company has already launched a project to build Trang Bang Water Plant with a daily capacity of 30,000 cubic meters in the first phase. In 2015 - 2020, Tay Ninh province has 14 urban centers, including one urban area certified Grade 3, three areas certified Grade 4 and 10 areas certified Grade 5. The water supplied to a resident in the Grade 3 urban area will reach 150 liters a day and the volume in the Grade 4 and Grade 5 urban areas will be 100 liters.

In this context, to effectively meet the rising water demand from customers, TNW will focus on expanding the water supply network, adopt measures to increase the water treatment capacity to upgrade automated and modernized production. Moreover, TNW will concentrate on building up a professional expert workforce to meet the rising demand for water and carry out safe, effective water supply plans.

Cong Luan