Penyao

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Founded in China in 1984, Penyao Environmental Protection Co., Ltd. (“Penyao EP” or the “Company”) is an integrated water and wastewater treatment ("WWT") company that owns/operates a sizeable portfolio of municipal BOT/TOT projects, provides EPC and BT services as well as manufactures/sells water/wastewater equipment.  As of 31 December 2016, Penyao EP had a total of 19 operational and pipeline BOT/TOT projects across seven provinces in China, including 13 WWT projects, four water supply projects, one reclaimed water project and one sludge treatment project.  Total design capacity for water/WWT projects amounted to 1.6 million tpd.The Project is to support Penyao EP to expand its water and WWT business via PPP, BOT and TOT models in areas that the Company has established good presence and relationship with local government via past BOT, EPC and BT projects, all outside first-tier cities.  Proceeds from the proposed IFC investment will be used for three WWT projects and two bulk water supply projects in five counties in China, as well as to refinance some short-term debt thus helping the Company to rationalize its capital structure.