Both parties have expressed the intention to incorporate a joint venture holding company that will acquire and operate wastewater treatment facilities in China.
Four wastewater treatment plants in the provinces of Anhui, Jiangsu and Liaoning have been identified by both parties as potential assets for immediate injection into the JVC.
The wastewater treatment plant in Shenyang, the capital city of Liaoning, owned by Advance SCT, is one of the four wastewater treatment plants identified for the JVC. This asset is held by a wholly-owned subsidiary B&F Envirotech (Shenyang) Co., Ltd. (B&F); it holds a 30-year Build-Operate-Transfer (BOT) concession to treat municipal wastewater in the oil-rich township of Xinglongpu at the outskirts of Shenyang.
Meike is a privately-held company incorporated in Beijing in December 2007. The company provides corporate finance and advisory services to provincial and city governments in China. It raises around RMB 2.5 billion (approximately S$530 million) annually to support local government-linked projects in the area of infrastructure development such as urban renewal, and environmental services such as waste and wastewater treatment. Meike has indirectly funded many wastewater treatment plants. It has identified three assets - two in Anhui and one in Jiangsu - for immediate injection into the JVC.Wastewater Treatment Plants:1 B&F Envirotech (Shenyang) Co., Ltd.