HanKore

HanKore: OCBC has an unarted report. House note that Hankore is an international group investing and operating in the water environment sector. At the invitation of the company, visited two of its projects in Jiangsu, China. The group has invested in 11 large-scale municipal water treatment projects located in Beijing and the provinces of Jiangsu, Shandong, Shaanxi and Henan, with a total contracted capacity of 1.57m tonnes per day. Hankore will spend RMB750m to expand the capacity of five other projects, which will be largely completed in 2014, and it has secured funding (both debt and equity). By focusing on the municipal waste-water treatment segment, Hankore could be also seen as a proxy to urbanization in China, based on the careful selection of its treatment plants.