Beijing Capital Company, Linyi Municipal Environmental Protection Bureau and Agriculture, Forestry and Water Development Co. have recently signed the franchised operation agreement for the development of two water purification plants PPP projects in Linyi, China.

Beijing Capital Co and Linyi Agriculture, Forestry and Water Development Co will co-found the special purpose vehicle (SPV) of the project, Linyi Beijing Capital Environmental Protection and Development Co. The SPV will function as the project company responsible for investment, construction and operation of the project.

Additionally, this will be the first water project implemented as PPP in the city. The overall water environment improvement has a total investment estimated at RMB473.732 million (US$71.98 million).

The public-private partnership project pursues the overall water environment improvement through the treatment of urban black and odorous water bodies in the downtown area of Linyi in China’s eastern province of Shandong.