China Everbright Water obtained Nanjing Industrial Waste Water Project Phase II, which requires an investment of around 859 million yuan (S$171.17 million or US$124.52 million), the company said in an SGX filing Monday.
The deal is a supplementary agreement to its concession agreement for the Nanjing Pukou Industrial Waste Water Treatment Project with Nanjing Pukou Economic Development Zone Administration Committee in Jiangsu Province, the filing said.
“Since completing construction and commencing operation in the second half of 2017, the Project Phase I has been operating with good efficiency and compliant discharge. By effectively collecting and treating industrial electronics waste water generated from the Pukou Economic Development Zone, the Project Phase I helps reduce discharge pollution and improve water environment,” An Xuesong, executive director and CEO of China Everbright Water, said in the statement.
“As there has been an increase in industrial waste water production in the Pukou Economic Development Zone, implementation of the Project Phase II will effectively respond to such treatment needs,” An added.
The second phase of the project will be on a built-operate-transfer (BOT) model by a project company in which China Everbright Water holds a 60 percent stake, the filing said.
Phase II includes an industrial waste water treatment project and a reusable water project, the company said.
The funding for Phase II will come from internal resources and external financing, the filing said.
When the concession period for both phases expires in August 2036, they will be transferred to the local government, China Everbright Water said.
While you’re here, we’re hoping you can help us out.
Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.
Your monthly contribution will directly fund our journalism.
You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.