SIIC grabs 60% equity interest in Ranhill Water

Proposed acquisition amounts to $55.9 million.

As it has been looking for investment opportunities in the industrial treatment market, mainboard lister water treatment protection company SIIC Environment Holdings acquired equity interest in Ranhill Water in Hong Kong (RWHK).

With the acquisition, SIIC will have in its hands 60% of the equity interest of RWHK for an aggregate consideration of $55.9 million (RMB 273.9 million).

RWHKis an indirect subsidiary of Malaysian water and power conglomerate, Ranhill Holdings Berhad. Its wastewater treatment services are provided to parks on concession contracts basis, with total design capacity reaching 260,000 tonnes a day.

"RWHK’s current wastewater treatment services are supplied to industrial parks in Jiangxi, Anhui, Liaoning and Henan. Deploying its patented technology, it has extensive expertise in the investment and operation of industrial wastewater treatment projects," the group noted in a statement.

Looking forward, SIIC said it is optimistic on the potential future market demand of highly effective industrial water treatment in China.

"SIIC Environment has been looking for investment opportunities in the industrial water
treatment market, and actively searches for proper entry opportunities in this sector for right
locations, right projects and with right teams," the group explained.

The move, SIIC added, will be enable them to further explore the Southeast Asian market.