Nanchang Shuanggang Water Supply Company Ltd.

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In February of 1995, Sino-French Holdings was awarded a 28-year contract to rehabilitate and operate the existing Nanchang Water Plant in Nanchang city, Jiangxi province. The plant had a capacity of 50,000 cubic meters per day but was to be expanded to 200,000 cubic meters per day under the contract. The plant had a 7% market share of Nanchang City's water production capacity and served an estimated population of 105,000. To implement the contract, the Nanchang Shuanggang Water Supply Company Ltd. was created as the project company in which Sino-French took a 50% stake, while the state-owned Nanchang Water Supply Company held the remainder. 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. The total project cost was estimated at 200 million francs (US$35.3 million). Operations started in January 1996. None None