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2008-6-17 11:48:00 a.m. HKT, XFNA
Hong Kong-listed China Water Industry to set up jv in Qinghai
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HONG KONG (XFN-ASIA) - China Water Industry Group Ltd said it has signed a
letter of intent to establish a water supply and sewage-treatment joint venture
with the Geermu municipal government in China's Qinghai province.
The estimated aggregate water supply capacity of the joint venture will be
100,000 tons per day, it said.
China Water will take 80 pct of the joint venture while the Geermu government
will take the remainder.
The local government will make a cash contribution to the venture and also
inject the assets of an existing firm, Geermu Water Supply Co.
The company did not reveal the capital needed for the joint venture.
China Water Industry shares were flat at 0.275 hkd.
roby.lau@xfn.com
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