Shenyang No. 8 Water Plant

cancelled

In February 1995, Sino-French Holdings was awarded a 30-year concession contract from the Shenyang municipal government to rehabilitate an existing water treatment plant with a capacity of 450,000 cubic meters per day in the city of Shenyang, capital of the Liaoning Province. The project served 474,000 residents out of a city population of 1.9 million. To implement the contract, the Shenyang Sino-French Water Supply General Company was created as the project company which was owned by Sino-French Holdings (37.75%), the municipal government of Shenyang (50%), and by Lyonnaise Asia Water Ltd, a French investment fund (12.25%). Sino-French Holdings (Hong Kong) Ltd., in turn, was a 50-50 joint venture company owned by Suez water subsidiary Ondeo and New World Infrastructure of Hong Kong. The total project cost was approximately US$150 million. Operations began in January 1996. The minimum off-take guarantee was 140 million cubic meters. On January 1, 2000, the Shenyang No. 8 Water Plant was acquired by the state-owned Shenyang Public Utility (SPU). The private shareholders of Shenyang Sino-French Water Supply sold their interest in the project in exchange for the right to purchase a 9.99% interest in SPU, which went public on the Hong Kong stock exchange in December of 1999. None None