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2 Dec

NWS Holdings joint venture invests RMB 100 million to expand water business in Sichuan

Sino French Water Development Company Limited (“Sino French Water”), a joint venture between NWS Holdings Limited (“NWS Holdings” or the “Group”; Hong Kong stock code: 659) and Suez Environnement, signed an admission agreement to invest RMB 100 million in Sichuan Jinghao Water Supply and Sewage Equity Investment Center (Limited Partnership) (“Jinghao Fund”). In addition, Sino French Water and Sichuan Water Supply and Drainage Investment Company Limited (“Sichuan Water Supply & Drainage”) established an O&M joint venture to jointly operate and manage water projects invested by the latter. These developments mark a critical step in Sino French Water’s growth and expansion in the water market in Sichuan, China.

With a registered capital of RMB 800 million, Sichuan Water Supply & Drainage is a tripartite joint venture formed by Jinghao Fund, Sichuan Development Holding Company Limited and Bohua Water Investment Company Limited. Its investment scope includes urban water supply, municipal and industrial wastewater treatment and sludge treatment in Sichuan Province. The newly established O&M joint venture, Sichuan Sino French Water Environmental Services Company Limited, will be responsible for operating and managing the water projects invested by Sichuan Water Supply & Drainage.

In 2012, Sino French Water officially entered the water market in Sichuan by partnering with Sichuan Dayi Water Company Limited (“Dayi”). Sino French Water acquired 65% stake in Dayi’s wholly-owned subsidiary, Chengdu Sino French Environmental Services Company Limited (formerly known as “Shuangliu Dayi Environmental Protection Technology Company Limited”), and together they are responsible for operating and managing eight township-level wastewater treatment plants in Shuangliu County and for investing, managing and operating Shuangliu Maojiawan Wastewater Treatment Plant under the BOT model. In 2013, Sino French Water acquired 65% stake in another wholly-owned subsidiary of Dayi, Chongzhou Sino French Environmental Services Company Limited (formerly known as “Chongzhou Dayi Water Purification Company Limited”), which provides municipal wastewater treatment service for approximately 600,000 residential, industrial and commercial users in Chongzhou.

NWS Holdings has investments in 27 water treatment projects, two sludge treatment projects and four technical consultancy companies in Mainland China, Hong Kong and Macau through its joint venture company Sino-French Holdings (Hong Kong) Limited. These projects treat a total of 7.73 million cubic metres of water and waste water per day and 840 tonnes of sludge per day. The Group also invests in a hazardous chemical waste incineration plant in Shanghai with annual capacity of 60,000 tonnes and holds a stake in a 61-hectare landfill in Hong Kong and two strategic investments in Chongqing, China.