25 Oct 2016
Everbright Water secures Nanjing Municipal Water PPP ProjectSingapore, 25 October 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 its consortium formed with Jinan Urban Construction Group Co., Ltd. ("Jinan Urban Construction") has won the bid for the Nanjing Municipal Water Public-Private Partnership ("PPP") Project ("Nanjing Municipal Water Project" or "Project") with a leading score in the overall bidding process.
On 20 October 2016, Everbright Water and Jinan Urban Construction jointly signed a project investment cooperation agreement with Nanjing Pukou Water Authority and Nanjing Pukou Construction Development Limited Company for the investment, construction, operation and maintenance of Nanjing Municipal Water Project. Everbright Water holds a 100% stake in the Project and will be responsible for the investment, operation and maintenance of the Project, while Jinan Urban Construction will be responsible for construction.
The Project commands a total investment of approximately RMB275 million, with an operation concession period of ten years (including a two-year construction period). It will mainly serve the Chengnan River basin in Pukou District of Nanjing City, providing a number of treatment projects, and operation and maintenance works, such as river water quality improvement, river dredging, river training, river outfall remediation, river widening, transect restoring, riverbank greening and riverside environmental management.
Mr. Wang Tianyi, Executive Director & Chairman of Everbright Water, said, "The Nanjing Municipal Government issued the 'Nanjing Water Pollution Prevention and Control Action Plan' earlier this year, affirming its commitment to enhancing environmental governance and improving the city's ecological environment. Nanjing Municipal Water Project is one of the key river basin projects identified for remediation under the action plan. It is also Everbright Water's first river training project, thereby broadening the Company's business development model. The total designed daily water treatment capacity of all the environmental water projects invested in and/or constructed by Everbright Water in Nanjing has reached 150,000m3. Moving forward, the Company will continue to make the most of its competitive edge and leverage its rich expertise in environmental water treatment to further facilitate the Nanjing Municipal Government in conserving the local ecological environment."