BEWGL, which has over 60 water plants across China, is majority owned by Beijing Enterprises Holdings, the Hong Kong listed commercial vehicle of the municipal government of Beijing with significant interests in gas supply, toll roads, waste water treatment, brewing and technology.
It is hoped the joint venture will take advantage of Aqualyng's technology and BEWGL's market position and access to new projects for the Municipal Government of Beijing.
Chris Rynning CEO of Origo, the holding company of Aqualyng, said: "This transaction has the potential to transform Aqualyng's business by providing a strong, low risk platform on which to expand its presence across China. I believe the Joint Venture could benefit from unparalleled access to new business opportunities across mainland China, preferential financing terms and beneficial offtake arrangements through its links with the Municipal Government of Beijing."
Currently, Aqualyng China is developing a 50,000m3/day sea water desalination plant at the Caofeidian Industrial Zone outside of Beijing in partnership with Tangshan Infrastructure Construction and Investment. Said to be one of the largest desalination plants under construction in China, the facility has a 30–year offtake agreement in place.
The project, which is expected to expand over the next 15 years, will serve the rapidly growing power generation plants and industrial customers in a number of industrial zones around Beijing.
View over the filtration building at Weihai Water Treatment Plant in China
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