CITIC Envirotech takes part in $12 mil joint venture investment

SINGAPORE (July 20): CITIC Envirotech says its joint venture company Baiyi Environment has acquired a 100% and 70% stake in Jiangyin Zhounan Wastewater Treatment and Jiangyin Huahong Wastewater Treatment, respectively, for a total of RMB59.5 million ($12 million).

Baiyi Environment was established between CITIC Envirotech, Hui Sheng Equity Investment Fund Management and Hui Yu Equity Investment Fund Management with the respective shareholdings of 49.9%, 49.9% and 0.02%.

The joint venture was incorporated in March this year for the purpose of undertaking projects as well as exploring investment opportunities in water-related projects in Jiangsu Province, China.

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