SIIC Environment clinches 100% equity interest in two wastewater firms abroad

For a combined value of $34.32m.

More wastewater treatment projects in China will now be under SIIC Environment as the company continues to expand its footprint in the country.

SIIC Environment (SIIC SP) acquired 100% of equity interest in Dongguan Shijie Shayao Water Purification Co., Ltd and Dongguan Fengang Yantian Fangzhong Water Services Co., Ltd for a purchase consideration of RMB88.0m and RMB78.6m respectively. This adds up to a total consideration of RMB186.6m.

A report by OSK-DMG reveals that Dongguan Shijie currently undertakes a 25-year wastewater treatment project with design capacity of 60,000 tonnes/day. On the other hand, Dongguan Fenggang has a 25-year wastewater treatment project with design capacity of 50,000 tonnes/day.

OSK-DMG adds that the acquisition will be made in cash, and be funded by a loan from
Shanghai Shen-Yu Development Co., Ltd, a wholly-owned subsidiary of the parent of SIIC Environment, Shanghai Industrial Holdings Ltd and internal resources of the Group.

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