CHINA WATER signed a financing agreement totaling USD 150 million with the Asian Development Bank

CHINA WATER (00855.HK) has officially signed a financing agreement with the Asian Development Bank (ADB) for a total amount equivalent to USD 150 million in RMB. The funds will focus on addressing the challenges faced by the sewage management system in Ningxiang City, Hunan Province, reducing land-based pollution, and upgrading water supply services in small and medium-sized cities.

ADB will provide an offshore loan of RMB 100 million equivalent from its ordinary capital resources and, as the authorized lead arranger and bookrunner, mobilize an additional USD 50 million from the New Development Bank (also known as the BRICS Development Bank) to meet the long-term construction and operational needs of the company's projects.

As the core implementation site for this project, Ningxiang City will welcome two major water service upgrade projects. CHINA WATER will invest in the construction of a "smart" sewage treatment plant with a daily processing capacity of 100,000 cubic meters and supporting pipelines, and will technically upgrade the existing sewage treatment plant with a daily processing capacity of 50,000 cubic meters; the financing will also be used to update and repair the company's pipeline facilities in urban water supply projects