Sanli forms joint venture for Changi NEWater Factory 3

The joint venture will be governed by a management committee comprising four members.

Sanli Environmental Limited has entered into a joint venture with Shanghai Tunnel Engineering Co (Singapore) Pte. Ltd. to undertake subcontract works for Singapore’s Changi NEWater Factory 3 project.

Sanli said its wholly owned subsidiary, Sanli M&E Engineering Pte. Ltd., signed a joint venture agreement with Shanghai Tunnel Engineering’s Singapore unit to collaborate as an unincorporated joint venture under the name SANLI–STECS CNF3 JOINT VENTURE.

The joint venture will act as a subcontractor for the Changi NEWater Factory 3 development, which was awarded by PUB, Singapore’s National Water Agency, to Sanli M&E.

Under the agreement, Sanli M&E and Shanghai Tunnel Engineering Co (Singapore) will each hold a 50% participating interest in the joint venture. The arrangement does not involve any initial cash capital contribution by either party.

Responsibilities under the subcontract are divided between the partners. Sanli M&E will be responsible for mechanical, electrical, instrumentation, control and automation works, as well as structural steelworks and the building management system.

Shanghai Tunnel Engineering Co (Singapore) will handle civil, structural and architectural works, including external works and building services, excluding the building management system.

The joint venture will be governed by a management committee comprising four members, with each party appointing two representatives.

Sanli M&E will act as the lead party, with its nominee serving as chairman. Certain key matters will require unanimous approval by the committee.

Sanli Environmental said the joint venture is not expected to have a material impact on the group’s net tangible assets or earnings per share for the financial year ending 31 March.

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