The newly established Joint Venture betweens Sunstone Water Group and KingAir will secure a solid platform for growth, with local sales and production in China under the trade name Zhejiang Sunstone Water Treatment Co. Ltd.
The new joint venture follows Sunstone Water Group’s new strategy with increased focus on SouthEast Asia, an area that can generally be characterized by lack of fresh and safe drinking water supply. In China alone almost two-thirds of its rural population use water contaminated by human and industrial waste. Whereas China’s two major rivers have been affected the most, a report issued by the Chinese Ministry of Environmental Protection states that two-thirds of groundwater and one-third of surface water was unsafe for human contact. Concurrently, China’s new water plan details targets for increasing the ratio of drinking water sources rated as Grades I-III in the country’s seven major river basins from 63% in 2013 to 70% by 2020 and to 75% by 2030.
In an article published today by Børsen, CEO Mads Schytz Haaning sets his expectations high towards the future business in China.