KUALA LUMPUR: Ranhill Holdings Bhd’s special-purpose vehicle Ranhill (Yongxin) Water Co Ltd has won a 29-year concession to operate a wastewater treatment plant in Maoping Industrial Park in Jiangxi, China.
The power and environment conglomerate, en route for listing on the Main Market on March 16, told Bursa Malaysia that it would invest 50 million yuan (RM31.5mil) in the 10-million-litre-per-day plant.
Ranhill (Yongxin) signed a public-private partnership concession agreement with the Yongxin County Industrial Development Zone Management Council (YMC) on Wednesday to undertake the project.
Ranhill will have the right to collect wastewater service fees and right to use the project land (size not mentioned in the announcement) during the concession period, which excludes the 16-month construction period of the plant.
Ranhill, which is being listed via a reverse takeover of Symphony House Bhd, has set its public offering share price at RM1.20 for institutional and retail investors.
Ranhill is the exclusive water operator in Johor and had 15 water and wastewater concessions overseas as of last year (based on its Dec 31, 2015 prospectus).
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