SINGAPORE - Singapore-listed water management company China Everbright Water leads a company which has snagged a 1.47 billion yuan (S$304.5 million) public-private project to manage a river in China's Guangxi Zhuang Autonomous Region.
A consortium led by Singapore-listed Everbright Water will tackle the restoration of the Shuitang River, in a deal with the southern Chinese city of Nanning.
A waste water treatment plant with a daily capacity of 40,000 tonnes will be built and run as part of the project, which also covers river interception engineering, sponge city construction, environmental landscaping and information management works.
The project facilities will be handed over to Nanning's Inland River Management Bureau at the end of the 22-year concession period.
Everbright Water will hold a 78.99 per cent stake in the project company, which is jointly incorporated by the private consortium and the city government's Nanning Jianning Water Investment Group.
The project commands a total investment of approximately 1.47 billion yuan.
Executive director and chief executive An Xuesong said in a media release on Monday (Sept 4) that the project - Everbright Water's first in the autonomous southern region of Guangxi - is a "breakthrough" for the company.
"It has also created good momentum for the company's business expansion in the second half of 2017," he said.
"The project will extend Everbright Water's brand influence to Nanning City and the surrounding areas, as well as to other markets in the southern region of China."