Dong Nai Water

What Dong Nai Water does

Dong Nai Water Joint Stock Company (Công Ty Cổ Phần Cấp Nước Đồng Nai, branded "Dowaco") is a Vietnamese state-affiliated water utility that operates the principal water supply and treatment infrastructure in Đồng Nai Province. Headquartered at 48 Cách Mạng Tháng 8, Biên Hòa, the company's core business comprises raw water extraction, treatment, and clean water distribution to residential, organizational, and industrial customers across the province. Dowaco operates a network of eight water treatment plants with a combined installed daily capacity of approximately 378,400 cubic meters, anchored by the flagship Thiện Tân plant (200,000 m³/day) and Nhơn Trạch plant (100,000 m³/day). The company also provides design, construction, and supervision services for water supply and drainage infrastructure projects on a project basis.

Dowaco generates the bulk of its revenue through tiered volumetric water tariffs billed monthly to residential and industrial customers, with pricing set under Dong Nai Provincial People's Committee Decision 20/2014/QĐ-UBND effective 3 June 2014. Industrial and organizational customers are served under formal contracts separate from the residential tier structure, with a 5,000,000 VND deposit required for certain service registrations. In 2025 the company expanded into branded consumer goods via the Doriv bottled drinking water line, produced using Japanese reverse osmosis technology in 19L, 500ml, 350ml, and 250ml formats. Dowaco operates the Dowaco CSKH mobile application and an online self-service portal (cskh.dowaco.vn) supporting new connection registration, bill inquiry, online payment, and service requests, with payment collection facilitated through an extensive network of bank partners (VietinBank, Vietcombank, HDBank, AgriBank, Sacombank, ACB), e-wallets (MoMo, VNPay, PAYOO), and retail collection points (Viettel, Vietnam Post, FPT Shop, Điện Máy Xanh, Thế Giới Di Động, Viễn Thông A). The Water Quality Management Department is accredited to ISO/IEC 17025:2017 (VILAS 1082), and individual environmental permits are held for each of the company's treatment plants.

The company is publicly listed on the Hanoi Stock Exchange under the ticker DNW. Institutional ownership is anchored by Bình Dương Water and Environment JSC, which held an 18.5% stake as of January 2023, and Dowaco itself maintains shareholdings in adjacent provincial water utilities including Gia Tân Water Supply JSC. Sonadezi Corporation is referenced as a parent/group entity via state ownership, and Dowaco lists Nhơn Trạch, Long Khánh, and Gia Tân water supply companies as related ecosystem entities. Operational footprint remains concentrated within Đồng Nai Province, with no international or multi-province service presence.

Name

Dong Nai Water

Legal name

Công Ty Cổ Phần Cấp Nước Đồng Nai

Website

https://dowaco.vn

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Dong Nai Water (Dowaco) is a Vietnamese state-affiliated water utility operating eight water treatment plants serving residential, industrial, and commercial customers across Đồng Nai Province. It also offers Doriv branded bottled water and water infrastructure construction services.

Ownership category

akta.pro rank

Product category

Water Utility Services

NAICS

Water Supply and Irrigation Systems (22131), Water, Sewage and Other Systems (2213), Bottled Water Manufacturing (312112), Water Supply and Irrigation Systems (221310)

SIC

Water Supply (4941), Bottled & Canned Soft Drinks & Carbonated Waters (2086), Beverages (2080)

akta.pro primary industry

Water Supply & Wastewater Utilities Administration (BPAIACAG)

akta.pro secondary industries

Bottled Water (Still, Sparkling, Enhanced) (CRADAHAC), Purified/RO Bottled Water Production (AFAFACAC)

Keywords

• Water utility services
• Water treatment infrastructure
• Bottled drinking water
• Water pipeline construction
• Industrial water supply

Headquarters

HQ city

Biên Hòa

HQ country

Vietnam

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Water Supply Service: Core revenue from clean water supply to residential households, organizations, and industrial customers in Dong Nai Province. Revenue generated through monthly water consumption billing based on tiered pricing structure.
2. Bottled Water (Doriv): Production and sale of purified drinking water under the Doriv brand in various sizes (19L, 500ml, 350ml, 250ml). Sold via hotline and ordering system.
3. Water Infrastructure Construction: Design, construction, and supervision of water supply infrastructure for customers. Includes installation of water meters and pipeline systems.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Dong Nai Water operates as a regulated provincial water utility: it extracts raw water, treats it through eight owned treatment plants (combined capacity ~378,400 m³/day), and distributes clean water to residential households, industrial customers, and organizations across Dong Nai Province. It also designs and constructs water supply and drainage infrastructure for third-party projects and sells purified bottled drinking water under the Doriv sub-brand.

Product overview

Dong Nai Water operates as a water utility company offering a portfolio of products and services centered on clean water supply. The core business comprises water exploitation, treatment, and distribution serving both urban residential and industrial customers in Dong Nai province, supplemented by design and construction services for water supply infrastructure. The company also operates the Doriv sub-brand for bottled drinking water, produced using Japanese reverse osmosis technology and available in multiple formats from 250ml bottles to 19L jugs. Digital service offerings include the Dowaco CSKH mobile application and online service portal enabling customer registration, bill lookup, and online payment.

Differentiator

Problem solved

Functional benefit

Brands

• Doriv: Bottled drinking water brand producing 19L bottles, 500ml, 350ml, and 250ml bottles. Produced using Japanese reverse osmosis technology.

Quantifiable outcome

• Q1 2024 water consumption reached ~29.4 million m³, a 6.6% increase year-over-year
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• Sonadezi CorporationcoreStrategic or Co-development PartnerSonadezi Corporation is the parent company/group of Dong Nai Water. As a state-owned enterprise in Dong Nai Province, Sonadezi manages industrial zone development and related infrastructure services.
• Công ty CP Cấp nước Nhơn Trạch (Nhơn Trạch Water Supply JSC)minorOthersRelated water supply company in Nhơn Trạch district, part of the water utility ecosystem in Dong Nai Province. Listed as a related entity on Dowaco's website.
• Công ty CP Cấp nước Long Khánh (Long Khanh Water Supply JSC)minorOthersRelated water supply company in Long Khánh district, part of the water utility ecosystem in Dong Nai Province. Listed as a related entity on Dowaco's website.
• Công ty Cổ phần cấp nước Gia Tân (Gia Tan Water Supply JSC)minorOthersDowaco owns shares in Gia Tan Water Supply JSC and has been involved in share transfer transactions. The company approved transfer of additional shares in 2023.
• Ngân hàng VietinBankminorChannel Partner/ Reseller/ DistributorBanking partner for payment collection services. Customers can pay water bills through VietinBank ATM cards and bank branches.
• VNPayminorChannel Partner/ Reseller/ DistributorElectronic payment partner enabling online water bill payment through the VNPay platform.
• MoMominorChannel Partner/ Reseller/ DistributorE-wallet partner enabling water bill payment through the MoMo mobile payment application.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Regional players

• Song Da Water Investment JSC: Vietnamese water utility with parallel provincial-level water supply and treatment operations. Useful as a comparable for revenue mix and capital intensity.
• Thua Thien Hue Water Supply and Sewerage JSC (HUEWACO): Provincial water utility in central Vietnam. Comparable business model of provincial water supply and treatment under regulated pricing in a different geographic market.
• Vinaconex Water and Environment JSC (VIWACO): Vietnamese water utility operationally comparable to Dowaco, providing water supply and treatment services in a different province with similar regulatory framework.
• Tan Hiep Water Investment JSC: Vietnamese water utility with similar municipal water supply operations. Comparable in scope and service model though operating in a different geographic region.

Broad incumbents

• Essential Utilities Inc. Large US investor-owned water and natural gas utility with regulated rate base. Useful as a benchmark for utility valuation multiples and regulated growth profile.
• Veolia Environnement: Global water services giant operating municipal water concessions worldwide. Comparable for water utility operating model and treatment expertise, though far larger and more diversified.

Others

• Core & Main Inc. US distributor of water, wastewater, and storm drainage products. Comparable as an enabling/supplier-side participant serving water utilities, though not a direct utility operator.
• Mueller Water Products: Manufacturer of water infrastructure products including meters and valves. Comparable as an adjacent equipment and technology provider to the water utility industry.

Direct peers

• Saigon Water Corporation (SAWACO): Vietnam's largest urban water utility serving Ho Chi Minh City. Direct peer as a publicly listed municipal water utility with similar supply, treatment, and billing infrastructure model.
• Binh Duong Water and Environment JSC (BWE): Listed Vietnamese water utility serving Binh Duong Province with similar operating profile. BWE is also a significant shareholder (18.5%) in Dong Nai Water, making it a direct strategic and operational peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Dong Nai Water