(7 April 2008, Hong Kong) NWS Holdings Limited (“NWS Holdings” or the “Group”, Hong Kong stock code: 659) announced that the Group has acquired stake in Chongqing Water Group (“CWG”). Together with SUEZ Environment (“SUEZ”), the Group signed a strategic cooperation agreement and a share purchase agreement (the “agreements”) with CWG, becoming the strategic investment partner of the latter.
According to the agreements, NWS Holdings and SUEZ will jointly indirectly hold 15% stake in CWG. Both parties are responsible for providing support in areas including company management, project management, business development, project financing as well as training and development consultation to CWG.
Mr Chan Kam Ling, Executive Director and Chief Executive Officer of NWS Holdings said, “The cooperation will further strengthen the Group’s infrastructure investment portfolio and generate satisfactory returns, and creates favourable condition to the future developments of water market in the region.”
Cooperation between CWG, NWS Holdings and SUEZ (the “parties”) started in 2002, where Chongqing Sino French Water Supply Co. Ltd., Chongqing Sino French Water Investment Co. Ltd. and Chongqing Sino French Tangjiatuo Wastewater Treatment Co. Ltd. were set up by the parties thereafter. The parties have jointly invested in water supply facilities in northern area of the main city and domestic wastewater treatment facilities in Zhongshutuo, Jiangbei City, Gailanxi and Tangjiatuo regions lied in Jialing River of the main city and northern area of Yangtze River. Currently, the water projects operated by the parties have an average daily capacity of 540,000 cubic metre, serving a population of one million, and its daily wastewater treatment capacity reaches 300,000 cubic metre.
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This press release is also available on the Group’s website ( www.nws.com.hk).
NWS Holdings Limited (“NWS Holdings”, Hong Kong stock code: 659), the infrastructure and service flagship of New World Development Company Limited (Hong Kong stock code: 17), embraces a diversified range of businesses in Hong Kong, Mainland China and Macau. Its Infrastructure portfolio includes Roads, Energy, Water and Ports projects. Its Service & Rental division comprises Facilities Rental (the management of Hong Kong Convention and Exhibition Centre and ATL Logistics Centre), Contracting (Hip Hing Construction and NWS Engineering), Financial Services (Taifook Securities and New World Insurance) and Other Services (New World First Bus, Citybus and New World First Ferry)
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NWS Holdings Limited
