Saigon Water Infrastructure

What Saigon Water Infrastructure does

Saigon Water Infrastructure (legal name: Công ty Cổ phần Hạ tầng nước Sài Gòn) is a Vietnamese publicly listed water utility operating under ticker SII on the UPCOM exchange. The company provides treated clean water to residential households and government institutions through owned and operated piped distribution networks and Build-Own-Operate (BOO) water treatment plants, with core service areas in Củ Chi district of Ho Chi Minh City and legacy project footprints in Thủ Đức, Đà Lạt (Dankia2), and Pleiku (Gia Lai). Its technology stack is conventional surface water treatment infrastructure paired with monthly water quality testing, digital billing via the VNPAY platform, and customer notifications through Zalo and SMS.

The business model combines recurring regulated water sales under HCMC People's Committee pricing (Decision 103/2009/QĐ-UBND, tiered consumption-based tariffs) with an additional 10% environmental protection fee on residential bills (Decision 139/2007/QĐ-UBND). Beyond water supply, Saigon Water offers technical engineering services and operations & maintenance services for water infrastructure under a "total solutions" umbrella. Following a 2012 strategic pivot away from transportation and real estate, the company has progressively divested non-core subsidiaries (An Khê, Pleiku, SGN, Enviro) while consolidating around the Củ Chi franchise.

Financial disclosures indicate 2024 revenue of approximately 10,407 billion VND (~$416M USD), up from 8,537 billion VND in 2020. Operating losses persisted from 2020 through 2023 before returning to modest profitability in 2024, with the headline 2024 net income figure (25,895 billion VND) inflated by divestiture-related gains. Governance has been turbulent, with multiple Chairman and Supervisory Board changes between 2022 and 2026, and the stock migrated from HOSE to UPCOM in 2023 amid thinner trading liquidity.

Name

Saigon Water Infrastructure

Legal name

Công ty Cổ phần Hạ tầng nước Sài Gòn

Website

https://saigonwater.com.vn

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Saigon Water Infrastructure is a Vietnamese publicly listed water utility (UPCOM: SII) that supplies treated clean water to residential and government customers in Củ Chi and other Vietnamese provinces through owned BOO water treatment plants and piped distribution networks under regulated municipal tariffs.

Ownership category

akta.pro rank

Product category

Water Utility Services

NAICS

Water Supply and Irrigation Systems (221310), Sewage Treatment Facilities (22132), Water, Sewage and Other Systems (2213)

SIC

Water Supply (4941)

akta.pro primary industry

Water Treatment Plant Construction (Drinking Water) (IMAFAGAA)

akta.pro secondary industry

Water Supply & Wastewater Utilities Administration (BPAIACAG)

Keywords

• Clean water supply
• Water infrastructure services
• Wastewater treatment operations
• BOO water plant operations
• Piped water distribution

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Clean Water Supply: Sale of treated clean water to residential and government customers in service areas. Revenue is generated from water consumption billed at tiered rates set by Ho Chi Minh City People's Committee Decision No. 103/2009/QĐ-UBND. Additional environmental protection fee of 10% of clean water price (before VAT) is charged per Decision 139/2007/QĐ-UBND.
2. Water Infrastructure Investment: Investment in water infrastructure projects including BOO (Build-Own-Operate) water treatment plants such as the Thủ Đức water plant. The company develops, owns, and operates water treatment and supply infrastructure as a core business activity.
3. Technical and Technology Services: Engineering and technology services for water infrastructure, including design, construction oversight, and operational technology support for water treatment facilities.
4. Operations and Maintenance Services: Operation and maintenance services for water supply systems, including water meter installation, pipeline maintenance, and facility management for water infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Saigon Water Infrastructure is a publicly listed Vietnamese water utility (UPCOM: SII) that supplies clean potable water through Build-Own-Operate (BOO) treatment plants and a piped distribution network to residential, commercial, and government customers across four main projects: Củ Chi, Thủ Đức (BOO), Đà Lạt (Dankia2), and Pleiku. The company operates an integrated solutions model covering water infrastructure investment, engineering and technology services, operations and maintenance, and regulated monthly water quality testing.

Product overview

Saigon Water Infrastructure operates as an integrated water infrastructure company providing comprehensive water solutions in Vietnam. The company's portfolio consists of clean water supply as its core product, supported by three major project pillars: BOO Thủ Đức Water Plant, Dankia2-Đà Lạt Water Plant, and Pleiku Clean Water Project, along with the Củ Chi Water Supply Project. The company offers a total solutions approach combining investment services, technical engineering services, and operations & maintenance services. Supporting services include water quality testing and certification, and water bill payment processing.

Differentiator

Problem solved

Functional benefit

Products and services

• Clean Water Supply Services (Cấp nước sạch) Core offering providing treated potable water through piped distribution networks to residential households, commercial customers, and government institutions in licensed service areas, billed monthly at regulated tiered consumption rates.
• Củ Chi Water Supply Project (Dự án nước sạch Củ Chi) Comprehensive clean water supply project serving Củ Chi district in Ho Chi Minh City, providing water meter installation, tiered consumption-based billing, regulated environmental protection fee, contract renewal, and continuous water distribution to registered residential and institutional customers.
• BOO Thủ Đức Water Plant (Nhà máy nước BOO Thủ Đức) Build-Own-Operate water treatment plant located in Thủ Đức district that produces and distributes clean water under a BOO model, operated as a wholly-owned core subsidiary of Saigon Water Infrastructure.
• Dankia2-Đà Lạt Water Plant (Nhà máy nước Dankia2-ĐàLạt) Water treatment facility located in Đà Lạt city serving local clean water supply needs as part of the company's water infrastructure operations across Vietnam.
• Pleiku Clean Water Project (Dự án nước sạch Pleiku) Clean water infrastructure project serving Pleiku city in Gia Lai province, developed through the wholly-owned subsidiary Công ty Cổ phần Cấp nước Gia Lai to address regional water supply needs in the Central Highlands.
• Water Quality Testing Services (Chất Lượng Nước Củ Chi) Monthly water quality inspection and certification reporting service providing independent testing documentation of clean water quality for customers in the Củ Chi service area and other operated projects.
• Investment Services (Đầu tư) Capital deployment and investment services for water infrastructure projects, including financing of water treatment plants and distribution networks as part of the company's integrated total-solutions approach.
• Technical Engineering Services (Kỹ thuật công nghệ) Engineering and technology services for water infrastructure design, construction oversight, and operational technology support for water treatment facilities, offered as one of three pillars of the company's total solutions model.
• Operations and Maintenance Services (Vận hành – bảo dưỡng) Operational management and maintenance services for water treatment facilities and piped distribution systems, including water meter installation, pipeline maintenance, and ongoing facility management for water infrastructure assets.

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• VNPAYminorChannel Partner/ Reseller/ Distributor · 1 January 2024VNPAY provides digital payment infrastructure for Saigon Water's customer billing and payment collection. Customers locate their customer ID and make water bill payments through VNPAY's platform. New VNPAY users receive promotional credits upon first successful payment. The partnership enables cashless bill settlement for water services.
• Gia Lai Water Supply Joint Stock Company (Công ty CP Cấp nước Gia Lai)minorStrategic or Co-development Partner · 10 February 2011Saigon Water has invested in and held an ownership stake in Gia Lai Water Supply JSC (Công ty CP Cấp nước Gia Lai), which operates water supply infrastructure in the Gia Lai province. The investment aligns with the company's strategy to expand water infrastructure operations across Vietnam.
• Ho Chi Minh City People's Committee (Ủy Ban Nhân Dân TP.HCM)coreStrategic or Co-development Partner · 24 December 2009The Ho Chi Minh City People's Committee sets the regulated water pricing framework under which the company operates. Decision No. 103/2009/QĐ-UBND dated 24/12/2009 establishes the clean water pricing applied to customers in the service area. This regulatory relationship is fundamental to the company's commercial operations.
• Ho Chi Minh City People's Committee (Ủy Ban Nhân Dân TP.HCM) - Environmental Protection FeecoreStrategic or Co-development Partner · 22 December 2007The Ho Chi Minh City People's Committee also establishes the environmental protection fee for wastewater (phí bảo vệ môi trường đối với nước thải sinh hoạt) at 10% of clean water price before VAT, per Decision 139/2007/QĐ-UBND dated 22/12/2007. This regulatory framework defines the company's total pricing structure.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Da Nang Water Supply JSC (Dawaco): Central Vietnam water utility providing potable water supply and treatment under regulated tariffs - comparable operating model, customer base, and BOO-style project structure to Saigon Water's Củ Chi/Pleiku assets.
• Binh Duong Water Supply JSC (BIWASE): Listed Vietnamese water and environment utility operating treatment plants and distribution networks in Binh Duong province under municipal concessions - same BOO/utility business model and Vietnamese regulatory framework as Saigon Water.
• Thu Duc Water Supply JSC: HCMC-area water utility with overlapping service territory to Saigon Water's Thủ Đức BOO plant, operating the same piped-water distribution and tiered pricing model - the closest geographic sub-market competitor.

Broad incumbents

• Aqua America / Essential Utilities: US-listed regulated water/wastewater utility with regulated rate-base earnings and operational scale - provides a benchmark for what an institutional-grade regulated water utility valuation should look like.
• Veolia Environnement: Global water and wastewater services operator active across municipal concessions and O&M contracts - relevant international benchmark for Saigon Water's stated ambition to scale engineering/O&M services.

Direct peers

• Sawaco (Saigon Water Supply Corporation): State-owned water utility serving Ho Chi Minh City, providing piped potable water to residential and commercial customers under HCMC People's Committee pricing oversight - the most direct domestic peer to Saigon Water Infrastructure's Củ Chi and Thủ Đức concessions.
• Hawaco (Hanoi Water Supply Company): Largest water utility in northern Vietnam, operating similar BOO/build-operate water treatment infrastructure and tiered residential pricing under municipal regulation - structurally comparable to Saigon Water's integrated investment-engineering-operations model.
• Gia Lai Water Supply JSC: Provincial Vietnamese water utility in the Central Highlands where Saigon Water held a stake and divested; operates piped water supply under provincial People's Committee pricing, directly comparable to Saigon Water's Pleiku project.

Others

• CII Bridges and Roads (CII): Vietnamese infrastructure investment company that provided capital support to Saigon Water - relevant peer/comparator for the regulated infrastructure investment role underpinning Saigon Water's BOO strategy.

Emerging players

• Manila Water Company: Emerging-market Asian water utility operating concessions under a similar build-operate framework with tiered residential tariffs and regulated rate-setting - useful Asia benchmark for Saigon Water's BOO concession economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/SaigonWater

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saigon Water Infrastructure