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Beijing Enterprises Water Group subscribes 50% equity interest in Aqualyng China

04 November 2010

In their first joint activity in China, Beijing Enterprises Water Group (BEWG) and Aqualyng will construct a 50,000 m³/day RO desalination plant for the Caofeidian Industrial Zone.

BEWG and Aqualyng will operate the plant during the 30 year term of the offtake agreement, together with the Tangshan Caofeidian Infrastructure Construction Investment Co Ltd (IIC). Aqualyng China and IIC set up a joint venture company in 2010 to construct and undertake the design, operation, ownership and maintenance of the RO desalination plant, which is the first phase of a 400,000 m³/day development.

Brynjulf Lomsdalen, CEO of Aqualyng said: “China is the prime focus market for our company moving forward, and with the ongoing construction of out first Chinese water sales project in Caofeidian, we have secured a strong platform for future growth in one of the most dynamic desalination markets globally. With BEWG as co-owner in Aqualyng China, we have further strengthened our foothold for future expansion in China. BEWG’s local experience and financial strength combined with Aqualyng’s technology and seawater desalination experience will create a strong partnership in the growing Chinese desalination market.”
 

 

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