Investing in China’s water

BEIJING – The Asian Development Bank (ADB) said on Thursday it will join three Singaporean firms in investing in a new company that helps China develop water projects.

The ADB will invest 4 million U.S. dollars in the newly-established Asia Infrastructure Project Development Company (AIPC), taking a 40 percent stake, said the ADB’s China office.

China has highlighted tackling water pollution and scarcity, setting a target of extending tap water supply coverage to 95 percent of the population and waste water treatment to 70 percent by 2010.

That demanded about 140 billion U.S. dollars of new investment in water plants, sewage treatment and recycling facilities, which required the involvement of the private sector, according to ADB’s study.

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Source : Xinhua