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CHINA Everbright Water has entered into a joint venture agreement with Jiangsu Xinyi municipal government to establish the Xinyi PPP (Public-Private Partnership) project company (PPP Project Company). The environmental protection company said in a Singapore Exchange filing on Wednesday.
The PPP Project Company will be responsible for the operation of Xinyi Waste Water Treatment PPP Projects (Xinyi PPP Projects), with Everbright Water holding an equity stake of 51 per cent and the Xinyi municipal government holding 49 per cent.
The total investment of Xinyi PPP Projects is approximately 300 million yuan (S$61.7 million), with designed waste water treatment capacity of 90,000 cubic metres, including two projects - the existing Xinyi City Waste Water Treatment Project and its upgrading project, and the existing Xinyi Economic Development Zone Waste Water Treatment Project Phase I and Phase II expansion project.
Wang Tianyi, executive director and chairman of Everbright Water, said: "Everbright Water started the cooperation with Xinyi municipal government since the Xinyi Economic Development Zone Waste Water Treatment BT Project. Winning the bid for the Xinyi PPP projects with a leading score reflects the strength of Everbright Water, and also underscores the recognition by Xinyi municipal government on Everbright Water's high-quality, high-standard and high-tech engineering projects, as well as its pragmatic and efficient management style. The cooperation between Everbright Water and Xinyi municipal government will be further strengthened. In addition to the pursuit of economic efficiency, we will pay attention to environmental and social benefits, so as to contribute to the environment, economic and social development of Xinyi city."