(1 July 2015, Hong Kong) Chongqing Suyu Business Development Company Limited (“Chongqing Suyu”), a 50/50 joint venture between NWS Holdings Limited (“NWS Holdings” or the “Group”; Hong Kong stock code: 659) and SUEZ Environnement, has entered into agreement with Chongqing Water Assets Management Co., Ltd. (“Chongqing Water Assets”) to jointly invest in Chongqing Derun Environment Co., Ltd. (“Derun Environment”) in Mainland China. The agreement was signed under the witness of visiting Chinese Premier Li Keqiang and French Prime Minister Manuel Valls in Paris on 30 June (Tuesday).
Upon completion of the agreement, Derun Environment, valued at approximately RMB30 billion in assets and cash, will become a platform to invest in and operate environmental-related businesses in Mainland China, including renewable resource recycling and utilization, soil remediation, environmental technology development, water and waste treatment and waste-to-energy project investment. Chongqing Water Assets and Chongqing Suyu will own approximately 75% and 25% of the equity interest in Derun Environment.
Tsang Yam Pui, Chief Executive Officer of NWS Holdings, said, “The investment platform of Derun Environment combines financial strength, technology know-how, management expertise and wide network of shareholding parties. We aim to become a leading player in China’s environmental sector which has been growing at an extraordinary pace under national policy and development planning.”
Derun Environment currently owns approximately 67% of the equity interest in Chongqing Sanfeng Environment Industry Group Co., Ltd., which operates waste-to-energy projects in Chongqing. Under the agreement, Chongqing Water Assets will provide Derun Environment with capital contribution of 36.60% shares it holds in Chongqing Water Group Co., Ltd. (“Chongqing Water Group”), a company listed on the Shanghai Stock Exchange which provides water and wastewater treatment services in Chongqing urban area. Chongqing Suyu’s capital contribution to Derun Environment will be 13.44% shares it holds in Chongqing Water Group and cash injection.
NWS Holdings has investments in 27 water treatment projects, two sludge treatment projects and five 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 7.88 million cubic metres of water and waste water per day and 1,140 tonnes of sludge per day. The Group, through its joint venture Chongqing Suyu, invests in Chongqing Water Group that manages and operates a number of water treatment projects in Chongqing.
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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), operates businesses in Hong Kong, Mainland China and Macau. Its Infrastructure portfolio includes Roads, Energy, Water and Ports & Logistics projects. Its Services portfolio comprises Facilities Management (the management of Hong Kong Convention and Exhibition Centre and Free Duty), Construction & Transport (construction, bus and ferry services) and Strategic Investments.
SUEZ ENVIRONNEMENT (Paris: SEV, Brussels: SEVB) supplies drinking water to 92 million people, delivers wastewater treatment services to 65 million, collects waste produced by almost 50 million, recovers 14 million tonnes of waste each year and produces 5,138 GWh of local and renewable energy. With 80,990 employees, SUEZ ENVIRONNEMENT, which is present on all five continents, is a key player in the sustainable management of resources. SUEZ ENVIRONNEMENT generated total revenues of €14.3 billion in 2014.
For further information, please contact:
NWS Holdings Limited
