On July 19, Paques signed an investment agreement with Zhonglou District to establish a wholly-owned subsidiary, Paques Environmental Technology (Changzhou) Co., Ltd., in the Zhonglou Economic Development Zone. This project marks the first foreign-funded industrial venture in Zhonglou in recent years.
Founded in 1960, Paques is a Dutch expert in industrial anaerobic wastewater treatment, gas desulphurization, nutrient removal, and metals recovery. Their anaerobic systems produce biogas from wastewater while purifying the water for reuse. The company has branches or factories in China, Brazil, the United States, India, and Malaysia, with an annual sales turnover exceeding 1 billion euros. Paques is owned by SKion Water GmbH, a company dedicated to water and wastewater treatment, with a global presence and numerous innovative technologies.
Zhonglou has been in contact with Paques since early March of this year. After multiple rounds of negotiations and visits, the company chose Zhonglou based on considerations of the business environment, transportation conditions, supporting industries, and market applications. According to SKion's strategic plan, Paques Changzhou will become a platform to introduce other Skion portfolio companies' industries to Zhonglou, thereby expanding cooperation between the two parties.
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