Citic Envirotech Ltd has won its first river restoration project worth $94 million in Yixing, Jiangsu, in a 90:10 joint venture with the Yixing Industrial Park for Environmental Science and Technology Management Committee (YIMC).
Citic Environment Harnessing Valley (Jiangsu) Co, Ltd, Citic’s subsidiary, will undertake the project via Build-Lease-Transfer (BLT) scheme for a duration of ten years – two years of construction and eight years of lease.
Yixing Industrial Park for Environmental Science and Technology is located in the Yangtze River Delta and is co-managed by YIMC and supported by China’s Ministry of Science and Technology and Ministry of Environment Protection.
Within Yixing Park, a proposed Sino-Singapore International Innovation Park has been established to focus on water technologies, strengthening bilateral cooperation in R&D and the transformation and industrialization of technological achievements in the water industry.