Bermuda-based group acquires 50% of Aqualyng China
Beijing Enterprises Water Group Limited (BEWGL) announced on 9 April 2010 that it had acquired a 50% equity interest in Aqualyng China Limited. Norway-based Aqualyng Holding AS, which has many years of experience in design, construction and installation of seawater desalination facilities, holds the other 50%.Aqualyng China and Tangshan Caofeidian Infrastructure Construction Investment Co Ltd, through a joint-venture company, began construction on 15 March 2010 of a 50,000 m³/d seawater desalination plant in the Caofeidian Industrial Zone.
Hu Xiaoyong, CEO of BEWGL, said, "This project not only supplies water to the electric plants in the Caofeidian Industrial Zone and enterprises in the other industrial zones, but also be the landmark to the group's development on the business of the large-scale seawater desalination. Coupled with the group's extensive business network in China and Aqualyng Holding's professional experience, we continue to invest in seawater desalination projects in China or other regions."
BEWGL is incorporated in Bermuda as an exempted company with limited liability and its shares are listed on the Hong Kong stock exchange. It strategically positions itself as a "leading integrated water system solution provider", and specializes in water service and environmental protection businesses, with wastewater treatment as its core business segment.