China Everbright Water’s unit bags 4th phase of wastewater treatment project in China

MAINBOARD-listed China Everbright Water on Wednesday (Jun 7) announced that its subsidiary has secured the fourth phase of a wastewater treatment project in Jiangyin city in China’s Jiangsu province.

In a bourse filing, the group said that its subsidiary Everbright Water (Jiangyin) has entered into a concession agreement with the Jiangyin Municipal Integrated Management Bureau of Jiangsu province for the fourth phase of the Jiangyin Chengxi wastewater treatment project.

Everbright Water (Jiangyin) will be responsible for the investment, financing, design, construction, operation and maintenance, and transfer of the project. It will be carried out on a build-operate-transfer (BOT) model, with an investment of approximately 253 million yuan (S$47.9 million).

In May, China Everbright Water had secured two projects related to wastewater treatment in the Shandong and Liaoning provinces.

The three projects command a total investment of approximately 406 million yuan (S$76.8 million). They are set to contribute an additional designed daily water treatment capacity of 60,000 cubic metres (cu m).

The Jiangyin Chengxi project has a concession period of an estimated 14 years, including the construction period. It has a designed daily wastewater treatment capacity of 45,000 cu m, and a daily reusable water supply capacity of 15,000 cu m.

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China Everbright Water said the project will expand the company’s presence and influence in Jiangsu province, and provide a “good foundation” to undertake further water projects in the province. The project is expected to enhance long-term returns and value for its shareholders, it added.

Shares of China Everbright Water closed at S$0.205 on Wednesday, up S$0.005 or 2.5 per cent before the announcement.