Black & Veatch Study Assists in Approval of $190 Million Bond Issue for Shanghai Water Improvements; First Water Company Bond Issue in People's Republic of China.OVERLAND PARK Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Kan. -- A two-year study by Black & Veatch helped lead to the approval of a historic 1.5 billion RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) (approximately $190 million US) corporate revenue bond issue to fund water and wastewater infrastructure Water and wastewater infrastructure is a generic term to describe public works, piping and plant facilities that treat and distribute drinking water taken from the environment and deliver it for use to a community and also the cycle that manages and treats the wastewater that come improvements in Shanghai. The study developed by Black & Veatch's Enterprise Management Solutions Division (EMS) included in-depth analyses of the overall financial, legal and regulatory elements of the bond funding project. The bond issue approval for the Shanghai Water Assets Operation and Development Company, Ltd. (SWAOD) marked the first time a water company in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (PRC) has issued bonds. The SWAOD provides water services to more than 9 million Shanghai residents. This project was supported by a technical assistance grant provided by the U.S. Trade and Development Agency (USTDA USTDA United States Trade and Development Agency ) to SWAOD, which was conferred con·fer v. con·ferred, con·fer·ring, con·fers v.tr. 1. To bestow (an honor, for example): conferred a medal on the hero; conferred an honorary degree on her. through a grant agreement signed in September 2002. USTDA's technical assistance is intended to support the World Bank Shanghai Urban Environmental Project and assist SWAOD in the issuance of long-term infrastructure bonds for wastewater infrastructure investments. "This successful bond issue will help enhance the water services in Shanghai in a very timely manner," said Myron Olstein, Director, EMS. "It also is an important step in creating a financial platform for increasing foreign investment and trade with the PRC." Water companies in the PRC have historically financed improvements to their infrastructure through a combination of short-term bank loans, government grants and cash. The new SWAOD corporate bonds will accelerate infrastructure improvements by making funds available in a shorter timeframe. The corporate bonds are set at 4.25 percent interest rate with a 15-year maturity. During the next 10 years the SWAOD expects to invest $3 billion to $4 billion in its water and wastewater infrastructure in Shanghai. "The staff of the SWAOD demonstrated a high level of expertise in utility operations and management. This was a key factor in the successful completion of our study and in this historic bond issue being implemented," Olstein added. EMS compiled its studies for the SWAOD under the auspices aus·pi·ces 1 n. Plural of auspex. auspices Noun, pl under the auspices of with the support and approval of [Latin auspicium augury from birds] Noun of the USTDA. About Black & Veatch Black & Veatch Corporation is a leading global engineering, consulting and construction company specializing in infrastructure development in energy, water, information and government markets. Founded in 1915, Black & Veatch develops tailored infrastructure solutions that meet clients' needs and provide sustainable benefits. Solutions include conceptual and preliminary engineering services, engineering design, procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. , construction, financial management, asset management, information technology, environmental, security design and consulting, and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services. The employee-owned company has more than 90 offices worldwide. Black & Veatch is ranked on the Forbes "500 Largest Private Companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. " listing. The company's Web site address is www.bv.com, Chinese website: www.bv-china.com. Enterprise Management Solutions (EMS) is the management consulting division of Black & Veatch. EMS provides tailored strategic, process and technology solutions to deliver improved operations, cost savings, new revenue streams and greater customer loyalty. More information on EMS is available at www.bv.com/consult. |
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