United Envirotech forms JV company with Chinese SOE Xingrong Group

It’s one of China’s largest water players.

Mainboard-litsted United Envirotech Limited has formed a 49%/51%-JV with Chengdu Xingrong Investment Co (XRTZ) with a paid-up capital of $10m (RMB50m) in Sichuan, China.

XRTZ is a state-owned enterprise listed in the A-share of the Shenzhen Stock Exchange, with a market capitalization of $3.5billion (RMB17.7 billion) and owns about 5 million m3/day of water treatment concessions.

The new JV company will provide Engineering, Procurement and Construction (EPC) services using UEL’s membrane technologies and membrane products, as well as to undertake investments in water treatment projects in the western China. 

The first block of projects to be undertaken by the JV is the expansion and upgrading of wastewater treatment plants and recycling of treated wastewater with combined capacity of 1 million m3/day using UEL’s proprietary membrane bioreactor (MBR) and continuous membrane filtration (CMF) technology. The total value of the first block of projects is estimated to exceed RMB 1.5 billion (SGD 300 million).