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China Everbright Water wins 3.1b yuan project in Shandong
INTEGRATED environmental water services firm China Everbright Water Limited has won the bid for a 3.1 billion yuan (S$628.6 million) project in Shandong province, China.
This includes construction projects for water source expansion, upgrading and construction of booster pump stations and of rural water supply facilities, and the construction of reservoirs, water plants and pipeline networks, among others, in the administrative areas of the Zhangqiu district.
These will operate with different models, including management contract, build-operate-transfer, and transfer-operate-transfer, with a concession duration of 30 years including the construction period.
Everbright Water will take an 80 per cent stake in the project company, with the remainder held by the Public Utility Bureau of Zhangqiu district, Ji'nan city.
Everbright Water executive director and CEO An Xuesong said this is the company's first urban-rural water supply project, marking a significant milestone for the firm to further expand its business scope.
"Following three wastewater treatment projects in the Zhangqiu district, the project represents a deeper and broader level of cooperation between the company and the local government," he added.