China Everbright Water Exits Wastewater Project After Policy Changes

MT Newswires06-08 13:27

China Everbright Water (SGX:U9E, HKG:1857) terminated its wastewater treatment project in Qingdao, China, citing regulatory changes in the country's public-private partnership framework, according to a Friday filing with the Singapore Exchange.

The dual-listed wastewater treatment company had signed a concession agreement with Qingdao Environmental Energy and Laoshan Urban Management Bureau in March 2024.

Under the agreement, China Everbright Water would cover the financial, construction, operation, and maintenance needs of the project.

Following the introduction of new regulatory guidelines by the National Development and Reform Commission and the Ministry of Finance, the company decided not to proceed with the project.

China Everbright Water said it will be reimbursed for costs incurred in relation to the project.

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