China's CGGC Acquires Sao Paul Water Supply Company

29 May 2018 by OOSKAnews Info
Sao Paulo, Brazil
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China Gezhouba Group Co (CGGC) announced May 29 that its subsidiary in Brazil has purchased a 100 percent stake of a water supply company in Sao Paulo, Brazil, in a latest move to improve the Chinese state-owned construction giant's presence in South America. (Xinhua)The acquisition has also enabled the subsidiary to have the operational rights of the water supply program, known as Sistema Produtor Sao Lourenco, in the country’s most populous city.Initiated in 2014, the program is expected to be completed and go into commercial use by August this year. The program includes water treatment utilities, pumping stations, and 83 kilometers of pipelines...

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