Thames takes stake in eastern supplier
1 August 2002
Thames Water of the UK is to spend US$72m to acquire a 48.8 per cent stake in the Hong Kong-based China Water Co. As the largest shareholder in the company, Thames said it would provide operational and technical expertise to help the firm expand in China. It added that it would use its investment to target private investment opportunities where "the lack of well-developed water services is a key constraint on economic growth".
China Water serves 4m people in eastern China, including the cities of Shenyang and Changchun. Thames has supplied water to more than 1m people in Shanghai since 1997.
