Abengoa Agrees to Sell Holding in China Water Desalination Plant

Abengoa SA (ABG) agreed to sell its holding in the Qingdao seawater reverse-osmosis desalination plant in northeastern China to one of its venture project partners for 53 million euros ($72 million).

The Seville, Spain-based company said the plant, in operation since early 2013, has a capacity to purify 100,000 cubic meters a day of salt water. The sales agreement with state-owned Qingdao Water Group will be completed next month, Abengoa said in today’s statement.

Earlier this month Abengoa completed construction of a water plant and 100 kilometers (62 miles) of pipeline to bring drinking supplies to 250,000 people in southern Angola. In January it won a contract to build a $1 billion solar-thermal project in Chile’s Atacama desert that will be the largest of its kind in South America.

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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