The Asian Development Bank (ADB) said yesterday it will join three Singaporean firms in investing in a new company that helps China develop water projects, reports Xinhua .

The ADB will invest 4 million U.S.dollars in the newly- established Asia Infrastructure Project Development Company (AIPC), taking a 40 percent stake, said the ADB’s China office.

The AIPC will provide feasibility assessments, planning, design and other services for water supply, sanitation and sewage treatment projects by Chinese local governments.

The other investors included United Engineers Singapore Pte Ltd, Konzen Environment Pte Ltd and Crest Spring Pte Ltd.

The company offers resources and expertise to the whole process of drawing up and completing projects jointly funded by government finance and private capital, said Seethapathy Chander, deputy director general of ADB’s Private Sector Operations Department.

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