China Everbright Water bags 213m yuan public-private partnership project in Shandong

CHINA Everbright Water on Monday said it has secured a wastewater treatment plant project in China's Shandong province, with an estimated investment of 213 million yuan (S$42.8 million).

The public-private partnership (PPP) agreement on the Ji'nan Zhangqiu Waste Water Treatment (Plant 4) PPP Project was inked with the Urban-Rural Water Bureau of Zhangqiu District of Jinan city.

A project company - in which China Everbright Water will hold a 99 per cent stake - will invest in, finance, construct, operate and maintain the plant based on a build-operate-transfer model.

The project has a concession period of about 30 years, which includes a construction period of around one year.

The plant has a designed daily waste water treatment capacity of 50,000 cubic metres and a designed daily reusable water supply capacity of 30,000 cubic metres.

Everbright Water has a total of seven water projects in Jinan's Zhangqiu District, after securing the project, with an aggregate designed daily water treatment capacity of 450,000 cubic metres. This has further solidified the company's local market position, said An Xuesong, executive director and chief executive officer of China Everbright Water.

"Leveraging the long-term trust and support of the local government authorities and the public, Everbright Water will develop Zhangqiu Project (Plant 4) into a benchmark project," he added.

Shares of mainboard-listed China Everbright Water closed down 0.5 Singapore cent or 2.3 per cent to 21 cents on Friday.