Everbright Water to operate two WWT Projects in Zhangqiu City
China Everbright Limited through its arm China Everbright Water, a company focusing on integrated environmental water services, has announced that it has entered into an agreement with Zhangqiu municipal government to establish a joint-venture project company adopting a public-private partnership (PPP) model.
The joint venture company will operate Zhangqiu No.1 and Zhangqiu No.2 waste water treatment plants. The group and Zhangqiu municipal government will hold equity stakes of 95% and 5% respectively.
The total designed daily waste water treatment capacity of both plants will reach 90,000 m3. The total investment is approximately CNY160 million (US$24.5 million) with a concession term of 30 years.
Zhangqiu No.1 Plant was originally invested in and constructed by Zhangqiu municipal government to treat municipal waste water from urban areas of Zhangqiu City. The Phase I project started construction in March 2004 and commenced operation in May 2005 with a designed daily waste water treatment capacity of 25,000 m3.
Subsequently, the Phase II project started construction in March 2006 and commenced operation in November 2007 with a designed daily waste water treatment capacity of 25,000 m3.
Zhangqiu municipal government also originally invested in and constructed Zhangqiu No.2 Plant, which treats both municipal waste water from urban metropolitan areas of Zhangqiu City and municipal and industrial waste water from Diao Town Industrial Park.
The plant started construction in March 2011 and commenced operation in December 2012 with a designed daily waste water treatment capacity of 40,000 m3.
Both Phase I and II projects underwent upgrading works in September 2011 to comply with the national Grade 1A water discharge standard.
Mr. Wang Tianyi, Executive Director & Chairman of Everbright Water, said:
"In May 2013, Everbright Water won a BOT (Build-Operate-Transfer) Project in relation to Zhangqiu No.3 Waste Water Treatment Plant with a designed daily waste water treatment capacity of 30,000 m3. Along with Zhangqiu No.1 Plant and Zhangqiu No.2 Plant, the total designed capacity of the waste water treatment projects invested in by Everbright Water in Zhangqiu City has reached 120,000 m3 per day, covering the entire waste water treatment market in the city. The successful bid for the first two plants via the PPP model shows the Group has received recognition from Zhangqiu municipal government for its high-quality and high-standard environmental water projects. This will further strengthen synergies between our different projects in Shandong Province and improve the strategic layout of our business."
