Sembcorp Concludes Acquisition of Three Water Works Facilities in Shenyang

China, Nov 14, 2008

On July 11, 2008, Sembcorp announced the formation of an equity joint venture to acquire, expand, own and operate three water works facilities, as well as a water intake system and distribution network within the Shenyang Economic & Technological Development Zone in Liaoning Province, China.  Sembcorp is pleased to announce that this 80% subsidiary, Shenyang Sembcorp Water Company, has now completed its acquisition of these assets. 
The three water works facilities have a total design capacity of 160,000 cubic metres per day, and will mainly serve industrial customers in the Shenyang Economic & Technological Development Zone. The assets were purchased for a total purchase price of RMB 306.6 million (equivalent to approximately S$64 million).
This acquisition is set to strengthen Sembcorp’s water business and its position in northern China. This is in line with the Group’s strategy to establish and grow beachheads at strategic locations.  China is a key growth market for Sembcorp, which is currently present in Nanjing, Shanghai, Zhangjiagang, Tianjin and Shenyang. 

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Sembcorp Industries Ltd is a leading utilities and marine group. The Group provides centralised utilities, energy and water to industrial and other customers in Singapore, the United Kingdom, Asia and the Middle East. It is a global leader in marine and offshore engineering and also a provider of environmental and industrial park management services in the region. Sembcorp has total assets of over S$9 billion and employs more than 7,000 employees. Listed on the main board of the Singapore Exchange, Sembcorp is a component stock of the Straits Times Index and several MSCI indices.

Note to Editors:

Following a recent company rebrand, please refer to the company as “Sembcorp” (with “S” in upper case and “c” in lower case), or “Sembcorp Industries” in full. Please also note that “Sembcorp” is not an abbreviation of “Sembawang Corporation” but a brandname in itself, and it is therefore incorrect to refer to our company as “Sembawang”, “Sembawang Corporation” or similar.

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