China Everbright Water Limited has acquired equity interest in Dalian Dongda Water Co., Ltd., which has become a subsidiary of Everbright Water.
Dongda Water is a waste water treatment company in Liaoning Province (China), principally engaged in the provision of water improvement services and municipal waste water treatment in Liaoning Province and Inner Mongolia Autonomous Region. The acquired company has 17 municipal waste water treatment projects with a total contract daily treatment capacity of 1.125 million m3.
This acquisition marked the first foray of Everbright Water into Liaoning Province and Inner Mongolia Autonomous Region. Following this acquisition, the Group's total daily waste water treatment capacity will increase by 32% to reach more than 4.6 million m3 per day.
Mr. Wang Tianyi, Chairman of Everbright Water, commented:
"We are delighted to complete as planned. The acquisition is an attractive opportunity and is aligned with our strategies to expand the Company's waste water treatment business. The Group intends to enhance its waste water treatment capacity and profitability via speeding up the integration process, increasing waste water treatment tariff and proactively pushing for upgrading and expansion of existing projects. This will also lay a solid foundation for the Group to further develop our businesses in the Northeast and Inner Mongolia region and cement our position as the top tier player in the industry in China."