SALCON BHD signed a cooperation agreement yesterday with the local government of Yizheng City in Jiangsu province, China on water and wastewater integration projects in the city and its neighbourhoods.In a statement yesterday, Salcon said the water and wastewater works include planning, operation and maintenance, laying of pipe networks, management of wastewater and recycled water within the Yizheng City administrative area.Further to the cooperation agreement, Salcon said an agreement (JVA) had been signed by its wholly-owned Salcon Jiangsu (HK) Ltd and Yizheng City & Rural Water Co Ltd to incorporate a joint venture company known as Jiangsu Salcon Water Environment Development Co Ltd (JSWED)The registered capital of JSWED would be 60 million yuan (approximately RM29.78 million) with Salcon Jiangsu subscribing for two-thirds of the equity stake and Yizheng Rural Water a third. It noted that under the JV agreement, JSWED would undertake the integration of water and wastewater supply works in Yizheng City, production of potable water, operation of wastewater and recycled water treatment and the discharge of rainwater and wastewater.
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