Press Release

23 Jan 2018

Everbright Water Zhenjiang Sponge City PPP Project Receives Subsidy from Government Special Fund



Singapore, 23 January 2018 – 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 water environment management, is pleased to announce that the Company’s Zhenjiang Sponge City PPP (Public-Private Partnership) Project ("Zhenjiang Sponge City Project" or the "Project") in Jiangsu Province has received a subsidy of RMB41.12 million from the Special Provincial Fund for Integrated Water Environment Management of Taihu Lake Basin (太湖流域水环境综合治理省级专项资金) ("Taihu Management Special Fund").

In April 2016, Everbright Water entered into an agreement with Housing and Urban-Rural Development Bureau of Zhenjiang City (镇江市住房和城乡建设局) to invest in and construct the Project. The Project commands a total investment of approximately RMB2.585 billion, including a RMB1.2 billion subsidy from the PRC central government and a RMB1.385 billion investment contributed by a joint venture company established by the Company and Zhenjiang Waterworks Corporation (镇江市水业总公司). The Project, which consists up to 70 construction sub-projects, commenced construction gradually from August 2016. It is expected that all the construction works will be completed within this year. Upon completion of all the construction works, the ability of Zhenjiang City to withstand flooding will be greatly enhanced, and various water environmental issues including non-point source pollution will be properly addressed.

The Taihu Management Special Fund was granted to mainly support three construction sub-projects under the Project. Zhenjiang City is one of the first 16 cities selected under the sponge city construction pilot programme, and is the first sponge city construction pilot zone in Jiangsu Province. The Project features a number of innovative construction works. Its construction team has been making meticulous exploration, putting active efforts to correspond with the government’s plans and arrangements, working with the project partners closely, and carrying out construction safely and efficiently. The objectives are to develop the Project into a high-quality sponge city project, effectively solve the local water environmental problems and make the city an iconic sponge city that is able to absorb rainwater and 'breathe'.



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