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China Everbright Water purchases stakes in a new joint venture

  • China Everbright Water has announced that its subsidiary 'Everbright Water (Shenzen) Limited is taking a 20% stake in a new joint venture company called Hebei Xiong'an Huashen Water Engineering Technology Limited. The stake has been purchased at a price of 1 million Yuan (Rs. 1.06 crores).

    The joint venture company's business will include research and development of hydraulic engineering technologies; planning, consultancy, management, and servicing of wading engineering projects; research, development, and servicing of intelligent water technology; and, research, development, and servicing of urban basic spatial data technology.

    Other stakeholders in the joint venture are Shenzhen Water Planning and Design Institute Co Ltd (40%), China Water Resources Beifang Investigation, Design and Research Co Ltd (35%), and Beijing Win Fortune Technology Co Ltd (5%).

    SOURCE: The Straits Times