China Construction International (03311) subsidiary plans to establish a joint venture in Beijing, China

According to Zhitong Finance App, China Construction International (03311) announced that on October 16, 2024, each contracting party signed a shareholder agreement to establish a joint venture in Beijing, China.

According to reports, the joint venture will be mainly engaged in sewage treatment and recycling, water pollution control, and municipal facilities management. According to the shareholders' agreement, the total registered capital of the joint venture will be RMB 761 million, and each contracting party's share of investment is as follows:

According to the announcement, the purpose of establishing the joint venture is to invest, build and operate a reclaimed water plant project in Beijing. The total construction area is estimated to be about 150,000 square meters, the civil construction scale is about 500,000 cubic meters per day, and the equipment installation scale is about 350,000 cubic meters per day. The establishment of the joint venture is in line with the Group's strategy to continuously enhance its construction technology business and environment-related construction business, and is expected to provide the Group with relatively stable and long-term benefits.