Chinese firms are now trying to buy up some of Australia’s most important water assets.
China Everbright Water and Beijing Water are reported to be fighting over Trility Water, which is being sold for up to $600 million.
Despite all the anger over China’s Yancoal trying to take over Newcastle Port, these companies now want to take over dozens of vital water treatment plans all over the country.
Mitsubishi owns 60% of Trility Water alongside with Innovation Network Corp and JGC Corporation.
The assets being targeted include a large number of water recycling and management projects across Australia and New Zealand, including 24 water treatment and desalination plants, 15 wastewater plants and 212km of irrigation pipelines.
Its most important assets are the Adelaide desalination plant and the Victor Harbor wastewater treatment plant.
It will be a huge test of the government’s Foreign Investment Review Board, which has the power to veto these foreign takeovers.