KUALA LUMPUR (Oct 30): Ranhill Utilities Bhd plans to team up with China Energy International Group Co Ltd (CEIG) for the proposed development of a public-private regional drinking water supply facility project in Indonesia.

In a bourse filing on Monday, Ranhill said it had inked a memorandum of understanding with CEIG to jointly pursue the Ir H Djuanda/Jatiluhur II water supply project, as well as co-develop and cooperate on other potential projects in Southeast Asia.

“The detailed scope of work, rights, and responsibilities, duties and obligations of each party for the collaboration shall be subsequently negotiated, discussed, finalised and mutually agreed by parties,” the utilities group added.

CEIG is a unit of China Energy Engineering Corp Ltd, a company jointly listed on the Hong Kong Stock Exchange and Shanghai Stock Exchange.

According to the website of Indonesia’s Ministry of Public Works and Public Housing, the Ir H Djuanda/Jatiluru II project comprises the construction of the intake, transmission pipeline, water treatment plant and main development network.

The project is to be 30% funded by equity and 70% debt. It carries a concession period of 30 years.

Shares in Ranhill closed unchanged at 57.5 sen on Monday, valuing the group at RM752.19 million.