SembCorp Industries announces that its wholly-owned subsidiary, SembCorp Utilities (SembUtilities), has increased its stake in Nanjing SembCorp SUIWU from 55 per cent to 75 per cent. Accordingly, SembUtilities’ share of the initial project cost will increase from USD 5.5 million to USD 7.5 million based on an estimated total investment of USD 10 million.

SembCorp Industries announces that its wholly-owned subsidiary, STIC Investments Pte Ltd (“STICI”), has sold its entire equity stakes in its China leisure companies and assigned all shareholder’s loans extended to the divested companies to Straco Corporation Pte Limited.

SembCorp Utilities (SembUtilities), the wholly-owned utilities subsidiary of SembCorp Industries has signed an agreement to establish joint venture company, Shanghai Caojing Cogeneration Company with Shanghai Electrical Power Company, Shanghai Shenergy Company and Shanghai Chemical Industrial Park Development Company to build, own and operate a 605 megawatt cogeneration plant in the Shanghai Chemical Industry Park (SCIP).

SembCorp Environmental Management (SembEnviro), the environmental engineering unit of SembCorp Industries, has acquired a 60 per cent equity stake in the waste collection business of Shanghai Sincere Environmental Services Co. (Sincere), one of the top three leading environmental services companies in Pudong, Shanghai for RMB 1.8 million or S$0.4 million.