Yardway proposes to set up JV to promote wastewater treatment

The JV with Beijing Capital (HK) aims to meet the market demand for urban and rural sewage treatment.

Yardway Group Limited (“Yardway”) announced on Monday that it has entered into a letter of intent with Beijing Capital (Hong Kong) Limited (“Beijing Capital (HK)”) in relation to propose a joint venture company (“JV”), Shou Chuang Environmental Protection Construction Company Limited (“Shou Chuang Environmental Protection”) in PRC.

The JV with Beijing Capital (HK) is expected to be engaged in sales and provision of technology promotion and consultation services relating to magnetic isolation wate treatment equipment and highly-magnetic soil water treatment equipment. Upon finalisation, Yardway and Beijing Capital (HK) will each contribute 50% in cash respectively, and each would hold 50% interest in the shares of the joint venture. Beijing Capital (HK) established in 2004, is a wholly-owned subsidiary of Beijing Capital Co., Ltd., the shares of which are listed on the Shanghai Stock Exchange, according to a Yardway report.

It is principally engaged in the investment and financing businesses related to water treatment and environmental protection, as well as value-added chain business and international cooperation business.

Mr ZHANG Fang Hong, Chief Executive Officer of YARDWAY, said “The Group is pleased to collaborate with Beijing Capital (HK). We believe Yardway’s technology features combined with the resources and advantages of Beijing Capital (HK) and its parent company, enables the JV to maximize the abilities and advantages. The JV is intended to meet the market demand for urban and rural sewage treatment, water treatment for natural water such as lakes and rivers, urban landscape water treatment, upgrading and reconstruction of urban sewage treatment into water for emergency use and high-phosphates industrial wastewater treatment.”

In addition, the Group also announced its strategic alliance with the Qingdao Branch of the Shanghai Municipal Engineering Design General Institute to establish the Yardway Group Technology Center in Qingdao. The agreement provides for a five-year partnership to collaborate on magnetic separation in water treatment technologies and water supplies market projects. Both parties are to work together not only in technical consulting, project designs, and research and developments projects, but would also form a joint-venture company to bid for tenders for waterworks projects.