31 Dec 2018
Everbright Water's Multiple Projects Receive a Total Subsidy of RMB42.68 Million from Government Special Fund
Singapore, 31 December 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 three projects of the Company in Jiangsu Province have been approved for a total subsidy of RMB42.68 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 2018. The three projects include: Zhenjiang Sponge City Construction PPP (Public-Private Partnership) Project ("Zhenjiang Sponge City Project"), Jiangyin Chengxi Waste Water Treatment Project ("Chengxi Project") Phase III and Chengxi Project Phase III Pipeline Network Pump Station ("Chengxi Pipeline Project").
Zhenjiang Sponge City Project has been approved for a subsidy of RMB30.8 million, which will be used for project construction. The project, which consists up to 70 construction sub-projects, commenced construction from August 2016. Since then, it has been approved for an aggregate of over RMB70 million subsidies of various types.
Chengxi Project Phase III and Chengxi Pipeline Project have been approved for a total subsidy of RMB11.88 million, which will be used for project construction. Both projects are progressing smoothly and are expected to commence operations in 2019.
Separately, as an active participant in the local environmental pollution control and environmental science education, Everbright Water (Ji'nan) Co., Ltd., a subsidiary of the Company, was recently included in the inaugural list of the provincial environmental science hubs in Shandong Province, and received the provincial environmental science hub funds of RMB1.2 million. The funds will be used to facilitate the project company in developing its projects into demonstration environmental science hubs that are well featured, more informative and scientific and provide better public welfare.