Chinese Central SOE Purchases Brazil's Large-scale Water Supply Project on May 29, 2018

Sabesp's water supply project in Brazil is transferred to China Gezhouba Group Company LTD. on May 29, 2018. [Photo/sasac.gov.cn]

Chinese central  SOE purchases Brazil's large-scale water supply project on May 29, 2018

A water supply project of Sabesp, a Brazilian water and waste management company, was transferred to China Gezhouba Group Company LTD. (CGGC), a subsidiary company of  China Energy Engineering Group Co., Ltd., on May 29, 2018.

CGGC purchased the project from Camargo Correa and Andrade Gutierrez, becoming the shareholder of Sabesp's water supply project.

The project was an important achievement of Chinese enterprises investing in overseas water industries and was a main infrastructure construction that promoted local economic growth and improved people's living conditions.

About 41 tons of water will be supplied to 1.5 million people per day when the project is completed, which will largely relieve water shortages.

(Executive editor: Li Shuling)