Hungary's Aquaprofit expects to generate several billions of forints in profit from its recent agreement with China's Shenzhen Environmental Technical Center, Aquaprofit President Tamás Nádasi said on Thursday.
MTI reported late last month that Aquaprofit had signed a five-year agreement to cooperate in a joint venture with the Shenzhen Environmental Technical Center to establish China's largest environmental-protection and water-management consultancy, of which Aquaprofit and its Chinese partner will each own 50%.
The joint venture will have registered capital of HUF 300 million.
Aquaprofit co-owner Peter Udud said the company expects to generate HUF 2 billion (€7.51 million) in profit from the agreement in five years.
The agreement also stipulates that Aquaprofit will work with the Shenzhen Environmental Technical Center to improve water quality and public water provision in the city of 8 million residents in southern China as well as collaborating in the areas of bottling mineral water, protection of the water base and utilization of renewable energy sources.
Aquaprofit is a 100% Hungarian-owned company, while the Shenzhen Environmental Technical Center belongs to the Shenzhen local council. (MTI-ECONEWS)