08 Jun 2016
Everbright Water Secures Xinyi PPP Waste Water Treatment ProjectsSingapore, 8 June 2016 - China Everbright Water Limited ("Everbright Water" or the "Company", SGX: U9E) (中国光大水务有限公司), an environmental protection company focusing on integrated environmental water services, is pleased to announce that it has entered into a joint venture agreement with Jiangsu Xinyi municipal government to establish the Xinyi PPP (Public-Private Partnership) project company (the "PPP Project Company"). Everbright Water and Xinyi municipal government will hold equity stake of 51% and 49% respectively in the PPP Project Company which will be responsible for the operation of Xinyi Waste Water Treatment PPP Projects ("Xinyi PPP Projects").
The total investment of Xinyi PPP Projects is approximately RMB300 million, with designed waste water treatment capacity of 90,000 m3, including (1) the existing Xinyi City Waste Water Treatment Project and its upgrading project and (2) the existing Xinyi Economic Development Zone Waste Water Treatment Project Phase I and the Phase II expansion project.
Xinyi City Waste Water Treatment Project which commenced operation in 2001 has a designed daily waste water treatment capacity of 70,000 m3. It is currently operated and managed by Xinyi municipal government. Following the upgrading, the water discharge will be upgraded from National Grade 1B standard to National Grade 1A standard. The concession period of the project is 25 years.
Xinyi Economic Development Zone Waste Water Treatment Project Phase I was a Build-Transfer ("BT") project secured by Everbright Water in 2010. It was designed to have a daily waste water treatment capacity of 10,000 m3 and to comply with the National Grade 1A water discharge standard. The project was handed over to Xinyi municipal government in the same year upon completion of its construction works. Phase II of the project is designed to have a daily waste water treatment capacity of 10,000 m3 and to comply with the National Grade 1A water discharge standard. The concession period of the project is 25 years.
Mr. Wang Tianyi, Executive Director & Chairman of Everbright Water, said: "Everbright Water started the cooperation with Xinyi municipal government since the Xinyi Economic Development Zone Waste Water Treatment BT Project. Winning the bid for the Xinyi PPP projects with a leading score reflects the strength of Everbright Water, and also underscores the recognition by Xinyi municipal government on Everbright Water's high-quality, high-standard and high-tech engineering projects, as well as its pragmatic and efficient management style. The cooperation between Everbright Water and Xinyi municipal government will be further strengthened. In addition to the pursuit of economic efficiency, we will pay attention to environmental and social benefits, so as to contribute to the environment, economic and social development of Xinyi city."