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Tuesday, 8 April 2014

Sembcorp expands industrial wastewater treatment business in Hubei

Sembcorp Industries will be expanding its industrial wastewater treatment business to China's Hubei province, with the development of its first beachhead in Jingmen City.

Sembcorp said it would own a 95 per cent stake in the joint venture to build, own and operate an industrial wastewater treatment plant in the Jingmen

Chemical Industrial Park. Jingmen Xinyuan Investment Company, wholly owned by the Duodao District Government of Jingmen city and a business arm of the JCIP Administration Committee, will hold the remaining 5 per cent.

The total project investment of 98.7 million yuan will be funded through a mix of equity and borrowings.

Sembcorp's 95 per cent share of the equity investment amounts to 37.5 million yuan (S$7.8 million), which will be financed by internal funds.


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