Yanshan County Water Diversion Works Phase I

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In February 2014, a Hong Kong based company China Water Affairs Group won a contract to finance, build and operate a water diversion project in Yanshan County, Jiangxi Province. Phase one of the project commenced in April 2014 and was expected to be completed by January 2015. The capacity of the Phase one was 100,000 tons per day and the total investment was RMB 160 million (US$ 26.06 million). A SPV was established to implement the project (the name of the SPV was not reported) and the registration capital was RMB 80 million (US$ 13.03 million). China Water Affairs Group had a 75% stake in the project through its subsidiary in Jiangxin Yinlong Water Affairs Investment Company Limited and the remaining shares belonged to the local utilities. Construction commenced in April 2014. The concession term of the project was 50 years and at the end of the term the works would be transferred to the local government free of charge.