Published on : Jun 05, 2014
One of the key players in China’s water utilities market – Beijing Enterprises Water Group Ltd (BEWG) – has said that it plans investments to the tune of USD 1.6 billion in foreign markets over the next five years. This decision was made known by a senior executive of the company earlier this week. The water plans operator that is listed on the Hong Kong Stock Exchange operates under the aegis of Beijing Enterprises Holdings Ltd, a state-owned enterprise. BEWG opened its international headquarters in Singapore earlier this month, and BEWG International Pte Ltd will operate in the capacity of an umbrella firm to oversee existing and potential investments in overseas markets. These investments are pegged at over USD 2 billion in all.
BEWG is an industry leader in the Chinese water supplies market and boasts a 300-water plant and treatment facilities strong portfolio. It operates facilities not just in China, but also Portugal, Malaysia, and Indonesia. Its plants carry an estimated capacity of 20 million tons/day.
According to the company’s managing director Zhang Zhenpeng, the company’s investments thus far stand at USD 480 million since 2009, when it began expanding in foreign markets. He was speaking during an event at the Singapore International Water Week, Zhang Zhenpeng. He further added that leaders from China’s water industry are acquiring an edge-in terms of experience, technology and capital-to compete against multinationals. Singapore has in the recent past emerged as global water hub, prompting BEWG to set up its international headquarters here.