China Everbright Water: Three Jiangsu projects to receive government subsidies

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China Everbright Water said on Monday that three of its projects in Jiangsu Province were approved to receive subsidies totaling 42.68 million yuan from the Special Provincial Fund for Integrated Water Environment Management of Taihu Lake Basin.

The three projects were Zhenjiang Sponge City Construction Public-Private Partnership (PPP), Jiangyin Chengxi Waste Water Treatment Project phase III and Chengxi Project phase III Pipeline Network Pump Station, it said in a filing to SGX before the market open on Monday.

The Zhenjiang Sponge City project was approved for a 30.8 million yuan subsidy, which will be used for project construction, it said. That project includes up to 70 construction sub-projects and started construction in August 2016, China Everbright Water said.

So far, the project has been approved for a total of more than 70 million yuan in various subsidies, it said.

The Chengxi Project phase III and Changxi Pipeline Project were approved for a total subsidy of 11.88 million yuan, which is earmarked for project construction, the filing said.

It added that both of the projects were “progressing smoothly” and were expected to begin operations in 2019.

China Everbright Water also said that its subsidiary Everbright Water (Ji’nan) was included in the list of provincial environmental science hubs in Shandong Province and received provincial funds of 1.2 million yuan.

The funds are earmarked to help the project company develop its projects into demonstration environmental science hubs to provide better public welfare, the filing said.

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