A partnership involving environmental firm China Everbright Water has successfully secured a renovation endeavor for the Zhangcun River Wastewater Treatment Plant in Qingdao, China, according to a press statement released by China Everbright.
China Everbright Water maintains a 49% equity stake in the partnership, with Qingdao Environmental Energy holding the majority interest at 51%.
The company disclosed that the partnership had finalized a concession agreement for the initial two phases of the renovation, amounting to an investment of about RMB688 million (S$129.4 million - about US$$96 million).
A partnership involving environmental firm China Everbright Water has successfully secured a renovation endeavor for the Zhangcun River Wastewater Treatment Plant in Qingdao, China
Spanning a concession duration of 30 years, the Qingdao Zhangcun River Project will be funded, constructed, managed, and sustained under the Build-Operate-Transfer (BOT) model through a project entity formed by the partnership.
As stated by China Everbright, executing the Qingdao Zhangcun River Project will enhance the municipal wastewater gathering and treatment system within the Zhangcun River area, addressing the escalating need for wastewater treatment locally.
The objective of the project is to contribute to the preservation of water quality in the Zhangcun River, mitigate potential pollution in the nearby sea due to wastewater, and continue fostering the sustainable development of the Zhangcun River vicinity.
