08 Oct 2015
Everbright Water Licheng Reusable Water Project to increase water tariff by 12.3%Singapore, 8 October 2015 - 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 focuses on investment, operation and management of integrated environmental water business, announced that its Jinan Licheng Reusable Water Project ("Licheng Reusable Water Project" or the "Project") has confirmed a tariff raise of over 12.3% with retrospective effect from 1 July 2015 through successful negotiation with its customers.
Licheng Reusable Water Project started its operation in September 2011. It is the largest single reusable water project in Shandong Province, with a designed daily reusable water supply capacity of 42,000 m3. The Project provides reusable water as circulating coolant for its customers, which replaces underground water as a step to promote energy conservation and water recycling in Jinan City.
The tariff adjustment was initiated based on the Directory of Value-added Tax Preferential Rate on Comprehensive Utilization of Goods and Services (Cai Shui No.  78 Article) jointly announced by the Ministry of Finance and State Administration of Taxation of the PRC. Going forward, the Company will proactively engage and negotiate with its customers for tariff adjustments in more water projects.
In addition, Jiangsu Tongyong Environmental Engineering Co., Ltd., the engineering platform of Everbright Water, was obtained a special fund of approximately RMB1.1098 million by the municipal government of Yixing City, Jiangsu Province. It is a testament to the Group that its construction capability and engineering quality are well recognized by the local government.