Citic Envirotech lands two projects in Sichuan Province

China yuan coins

Citic Envirotech has secured two build-own-transfer projects in Xichang City, Sichuan Province, in China, with a total investment value of 1.69 billion yuan (S$327.70 million or US$23594 million), the water infrastructure company said in a filing to SGX Wednesday.

For the first project, Citic Envirotech will design, construct and operate water-supply pipelines in a water supply development project for an investment amount of 1.34 billion yuan, the filing said.

The project, which comes with a 30 year service concession including a two-year construction period, is intended to provide an additional water source for Xichang City, Citic Envirotech said.

A project company, called Changxin (Liangshan) Water Resource Engineering, will be formed for the project, and it will have registered capital of 446 million yuan, the filing said.

Citic Envirotech said it will hold 78.9 percent of the project company, while Xichang Anning Water Construction Investment will hold 19 percent, Mianning County Modern Agriculture Investment Development will have 1 percent, China Water Resources and Hydropower Seventh Engineering Bureau will have 1 percent and Sichuan Zhongyu Environment Management will own 0.1 percent.

The second project is for the design, construction and operation of a 30,000 square meter a day wastewater treatment plant and related piping works, the filing said, adding it will have a service concession of 32 years, including a two-year construction period.

The project, located at the Chengdu Liangshan Industrial Park, north of Xichang City, will have an investment value of 345 million yuan, the filing said.

The project company for the second project, CITIC Environment Management (Liangshan), will have a registered capital of 115 million yuan, the filing said.

Citic Envirotech said it will hold 89 percent of the project company, while Xichang Water Supply and Drainage Corp. will hold 10 percent, Sichuan Zhongyu Environment Management will own 0.9 percent and Tianjin Municipal Engineering Design and Research Institute will have 0.1 percent.

The capital injections will come from internal resources and bank financing, the filing said.

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