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18 Mar

NWS Holdings acquired interest in three new water projects in Jiangsu Province

NWS Holdings Limited ("NWS Holdings" or the "Group"; Hong Kong stock code: 659) announced the acquisition of interest in three water projects in Jiangsu Province through its joint venture entity with an attributed total investment amount of approximately RMB300 million.

The three water projects, namely Nanjing Golden State Chengbei Waste Water Treatment Plant, Taizhou Golden State Water Plant and Taizhou Golden Harbor Water Plant, are already in operation and with a concession period of 30 years. Upon completion, NWS Holdings will hold a respective effective interest of 35.8%, 32.8% and 35.8% in the three projects. Nanjing Golden State Chengbei Waste Water Treatment Plant has a daily treatment capacity of 300,000 cubic metres. Taizhou Golden State Water Plant, having a daily production capacity of 200,000 cubic metres, is a full water concession contract. Taizhou Golden Harbor Water Plant supplies drinking water to surrounding towns with a daily production capacity of 150,000 cubic metres.

Encouraging results achieved from the Water segment in FY2011 interim results have strengthened the Group's positive outlook on the water market. NWS Holdings believes that the interest acquisition of these three water projects can further enhance revenue from the Water segment.

Together with these three newly acquired projects, NWS Holdings' Water portfolio comprises 27 water treatment projects, a sludge treatment plant, two operation & management consulting companies and a waste  incineration plant in Mainland China and Macau which together treat up to 7.65 million cubic metres of water and waste water per day, 540 tonnes of sludge per day and 60,000 tonnes of waste per year. The Group also holds stake in a 61-hectare landfill in Hong Kong and one strategic investment in Chongqing.