Chongqing Municipal Water

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In August of 2002, Sino-French Holdings was awarded a 50-year concession contract by the Chongqing municipal government for the production, operation and distribution of water in Jiangbei district, Lianglu town of Yubei district and the new zone in the northern part across the two districts, covering a population of 0.46 million and an area of 75 km2 by a network of 272.4 km. Sino-French was to manage two existing facilities producing 275,000 cubic meters per day of drinking water a day and increase capacity to 345,000 cubic meters per day as well as manage the distribution network. To implement the contract, Chongqing Sino French Water Supply Company Ltd. was created as the project company which was owned by Sino-French (60%) and the Chongqing Municipality, through the Chongqing Water Industry Holding Company Ltd. (40%). Sino-French, in turn, was a joint venture company owned 50% by Suez water subsidiary Ondeo and 50% by New World Infrastructure of Hong Kong. Total investment was estimated at US$149.1 million and was to be spread over the life of the contract. Operations began in November of 2002. None None