HONG KONG: SIIC Environment Holdings Ltd. has announced that the Company through its subsidiary, Shanghai Fudan Water Engineering Technology Co. has established a joint venture company, Shen County SIIC Environmental Energy Co., Ltd. together with World Prosperous Investments Limited, Shanghai Nanyi Environmental Technology Company Limited and Shandong Sanding Company Limited.
[the_ad id=”32940″]The JV Co will be incorporated with a registered capital of RMB105 million, a statement issued to Singapore Exchange (SGX) noted.
The JV Co will be principally engaged in investment, construction and operation of the waste-to-energy project with a designed capacity of 1,200 tons/day which located at the Circular Economy Industrial Park in Shen County, Shandong Province in China.
The contribution to be made by Fudan for the incorporation of the JV Co will be funded by the internal resources of the Group. The establishment of the JV Co is expected to contribute to the Group’s performance positively going forward.
SIIC Environment Holdings Ltd. is a top-tier integrated player in China’s water and environmental markets. It is engaged in wastewater treatment, water supply, solid waste management and other environment-related businesses.