[photopress:zones_jiangsu.jpg,full,alignright]Singapore conglomerate Sembcorp Industries has entered an RMB112 million($16 million) joint venture to build and run an industrial water recycling facility in China’s Jiangsu Province. Sembcorp will take an 80% stake in the joint venture company, which is called Zhangjiagang Free Trade Zone Sembcorp Water Recycling, while the remainder will be held by Zhangbao Industries, an investment arm of the Zhangjiagang city government.
The facility, to be completed in the first half of next year, will be Sembcorp’s third water management project in Zhangjiagang.
It will supply recycled water, including demineralised water, to industries in the Zhangjiagang Free Trade Zone.
(The Zone is under the jurisdiction of Suzhou and is a two hour drive to Shanghai. It was approved by the State Council in 1992 and is the only Chinese free trade zone that lies on an inland river.)
SembCorp said it expects to fund the joint venture through a mixture of equity and a commercial loan.