SIIC to buy 60% stake in HK firm

Singapore

WASTEWATER treatment firm SIIC Environment said on Thursday that it will buy 60 per cent of Ranhill Water (Hong Kong) for 273.9 million yuan (S$55.8 million) in cash.

The target company mainly provides wastewater treatment services to industrial parks in China on concession contracts, with a total design capacity reaching 260,000 tonnes a day. It is also involved in a joint venture in Malaysia.