Spain-based engineering and clean technology firm Abengoa is set to acquire 25% of the Chinese wastewater treatment firm GreenTech.
The deal is currently under the standard review process by the Chinese Government and will be approved in the second quarter of 2014.
Established in 2004, GreenTech’s current clients range from the municipal sector to the industrial sector, and it has more than 40 references in water treatment with a combined capacity of 2.1 million cubic meters per day.
With the acquisition of GreenTech, Abengoa will consolidate and expand its business operations in the Chinese water treatment market.
Earlier, Abengoa had designed and constructed its first reverse osmosis sea water desalination plant at Qingdao in China under a public-private partnership model.
Additionally, Abengoa has business operations in the US, Latin America, the UAE, Algeria, Ghana, China, India, and Spain.