04 Sep 2017
Everbright Water Secures Guangxi Nanning Shuitang River Integrated Restoration PPP ProjectSingapore, 4 September 2017 – 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 the Company has won the Nanning Shuitang River Integrated Restoration Public-Private Partnership Project ("Nanning PPP Project" or the "Project") in Guangxi Zhuang Autonomous Region ("Guangxi"), and has signed a public-private partnership agreement in relation to the Nanning PPP Project with the Inland River Management Bureau of the City of Nanning. The Project commands a total investment of approximately RMB1.466 billion.
Nanning PPP Project will be surveyed, designed, invested, financed, constructed, operated and maintained by a project company (the "Project Company"), to be jointly incorporated by a consortium, led by Everbright Water, and Nanning Jianning Water Investment Group Co., Ltd. (being the investor representative of the People's Government of the City of Nanning). Everbright Water will hold a 78.99% equity stake in the Project Company.
The Project has a concession period of 22 years (a two-year construction period inclusive), and its business scope includes river training, river interception engineering, river ecological restoration, sponge city construction, environmental landscaping and information management works within the planned red line area at the Shuitang River. In addition, the Project includes the construction and operation of a waste water treatment plant with a designed daily treatment capacity of 40,000 tonnes.
Mr. An Xuesong, Executive Director and CEO of Everbright Water, said, "Nanning PPP Project is Everbright Water's first project in Guangxi, marking a breakthrough in the Southern region of China. It has also created good momentum for the Company's business expansion in the second half of 2017. 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."
Mr. An Xuesong added, "Shuitang River is a major inland river of the City of Nanning and flows into Yong River, the City's mother river. Nanning PPP Project is a key project of the city's program for the treatment of black and odorous water bodies. Everbright Water will fully synergise its resources in Central and Southern China such as Hubei and Henan Provinces, and leverage on its competitive advantages in technology and management, to build the Project into a local environmental protection benchmark and contribute towards the continuous improvement of Shuitang River's water and ecological environment."