China Water Affairs Group Ltd. (855), a municipal water and sewage treatment provider, agreed to establish a joint venture for water-related investments and construction in Henan and neighboring Chinese provinces.
Jianghe Water Affairs Co., a unit of China Water, will invest 135 million yuan ($21.2 million) and own a 45 percent stake in the venture. The rest will be held by Henan Water Resources Construction Investment Co. and Huanghe Water Affairs Co., China Water said in a Hong Kong stock exchange filing.
“The water business in Henan and its adjacent areas have booming potential,” with water resources infrastructures in the Yellow River basin and the “South to North Water Diversion” project under way, the Beijing company said yesterday.
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