05 Nov 2018
Everbright Water Secures Shandong Laiyang Economic Development Zone Water Environment Management PPP Project
Singapore, 5 November 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 has today signed the agreements with the Laiyang Economic Development Zone Management Committee, as authorised by the People’s Government of the City of Laiyang (the "Laiyang Government"), and secured Laiyang Economic Development Zone Water Environment Management PPP (Public-Private Partnership) Project ("Laiyang PPP Project"), which commands a total investment of approximately RMB484 million.
Laiyang PPP Project will be invested in, constructed and operated based on a BOT (Build-Operate-Transfer) model by a joint venture to be jointly established by Everbright Water and an entity designated by the Laiyang Government as its investment representative, for a concession period of 20 years (construction period inclusive). Everbright Water will hold a 90% equity stake in the joint venture. In addition, Laiyang PPP Project comprises two sub-projects, namely Laiyang Water Environment Management Sub-Project and Laiyang Waste Water Treatment Sub-Project.
Laiyang Water Environment Management Sub-Project commands an investment of approximately RMB371 million. This sub-project consists of: 1) the integrated treatment of the Qixing River and its tributaries, involving river interception, river dredging, water quality improvement and usable water replenishment; 2) the construction of approximately 13 kilometers of pipeline network for the waste water collection in the western parts of the Laiyang Economic Development Zone; and 3) the construction and overhaul of 10 kilometers of "sponge-type" roads.
Laiyang Waste Water Treatment Sub-Project consists of the construction and operation of a waste water treatment plant in Laiyang City. The plant has a total designed daily waste water treatment capacity of 60,000 m3. Pursuant to the agreement, the parties will first invest in approximately RMB113 million to develop the plant with a daily waste water treatment capacity of 15,000 m3. Its discharged water will comply with the national Grade 1A standard and will be re-used for the river landscape of the Qixing River.
Laiyang PPP Project is Everbright Water’s first water environment management project in Shandong province, which demonstrates the recognition of the Company’s efforts and achievements by the local government and residents in this business area in recent years. The project also marks the expansion of Everbright Water’s business into a new county-level market, which will strengthen the Company’s market position in the province.