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China Everbright Water consortium bags 1.47b yuan Nanning project

CHINA Everbright Water Limited said its consortium has secured the Nanning Shuitang River Integrated Restoration Public-Private Partnership Project in Guangxi Zhuang Autonomous Region.

A public-private partnership agreement in relation to this project with a total investment of about 1.466 billion yuan (S$303.6 million) was inked with the Inland River Management Bureau of the City of Nanning.

The project will be surveyed, designed, invested, financed, constructed, operated and maintained by a project company to be jointly incorporated by a consortium led by Everbright Water and Nanning Jianning Water Investment Group Co Ltd.

Everbright Water will hold a 78.99 per cent equity stake in the project company.

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An Xuesong, executive director and CEO of China Everbright Water, said this marks the group's first project in Guangxi, marking a breakthrough in the southern region of China. "It has also created good momentum for the company's business expansion in the second half of 2017."

The project has a concession period of 22 years including a two-year construction period, and its business scope includes river training, river interception engineering, river ecological restoration, sponge city construction, environmental landscaping and information management works within the planned red line area at the Shuitang River.