SINGAPORE (Dec 31): China Everbright Water says three of its projects in Jiangsu Province, China, will be receiving a total of RMB42.68 million ($8.5 million) in government subsidies for 2018, which the group intends to use in full for project construction.
The bulk of the subsidies will go to China Everbright’s Zhenjiang Sponge City Project, which has been granted RMB30.8 million.
This project comprises up to 70 construction sub-projects which have commenced construction from Aug 2016, and have since been approved for an aggregate of over RMB70 million subsidies of various types.
Another RMB 11.88 million in subsidies will be shared between its Jiangyin Chengxi Waste Water Treatment and Chengxi Pipeline Network Pump Station projects, which are both in phase III. According to the group, these two projects are progressing smoothly and are expected to commence operations in 2019.
In a Monday filing, China Everbright adds that its subsidiary, Everbright Water (Ji’nan) has received provincial environmental science hub funds of RMB1.2 million as the company was recently included in the inaugural list of the provincial environmental science hubs in Shandong Province.
It intends to use the funds to facilitate the project company in developing its projects into demonstration environmental science hubs that are well-featured, more informative and scientific, and provide better public welfare.
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Shares in China Everbright closed flat at 30 cents on Friday.
