Hong Kong company NWS Holdings (NWSH) and China's state-owned Hainan Tianya Water Industry Holding signed a RMB 320 million deal to supply water in Hainan.
The 50-50 JV has a 30-year franchise for production, plant operation and maintenance, distribution and billing of drinking water in Sanya.
It is the first time China has allowed a foreign investor to operate such water supply services for an entire city.