AnnAik's 25%-owned unit leads JV for China waste project

Singapore

CATALIST-LISTED AnnAik Ltd said on Friday that its 25 per cent-owned associate, Shanghai Onway Environmental, together with other strategic investors, snagged its maiden public-private partnership project in July.

The project, awarded by the Housing and Urban Construction Bureau of China's Wujiang District, is worth about 134 million yuan (S$26.8 million), AnnAik said. It will be undertaken by a joint-venture company which was set up in June with registered capital of 26.68 million yuan.