Small city's residents alarmed as billionaire makes huge purchase near crucial water supply: 'It's critical that we safeguard'

A recent acquisition by a Chinese billionaire has raised alarms in a New Hampshire community.

Zhong Shanshan, chairman of Chinese beverage giant Nongfu Spring and the richest man in China, quietly purchased a $67 million industrial site near the Pennichuck Pond watershed in Nashua, New Hampshire, according to NH Journal. Local officials are now sounding alarms over the security of their state and water supply.

The site is dangerously close to the city-owned utility Pennichuck Water, but officials insist the deal involves only water sales, not land or company ownership.

"There is zero plan to sell the company," said C. George Bower, chairman of Pennichuck's board of directors. "There is zero plan to sell any land."

Zhong, who is worth $58 billion and has close ties to the Chinese Communist Party, is seeking up to 2 million gallons of water per day for a new beverage plant on the property. Pennichuck claims that it can easily afford the supply and may even lower residential water bills thanks to the revenue.

However, locals and lawmakers are uneasy, to say the least, about the idea of giving any control of natural resources to a billionaire who is said to have backing from a foreign government.

Watch now: How bad is a gas stove for your home's indoor air quality?

"Water is one of our most vital resources — to have a business, backed by the CCP, accessing water in our backyard is alarming," said former state Rep. Randy Whitehead.

State Sen. Regina Birdsell is proposing legislation to prevent Chinese entities from owning land near sensitive sites.

The good news is that Pennichuck's conservation-focused pricing model charges commercial and industrial users on a tiered scale. Rates increase as usage goes up, and bringing Zhong on board could generate substantial revenue. This could result in reduced costs for other users across the Pennichuck system.

However, back in 2012, Nashua waged a $200 million battle to acquire Pennichuck to prevent corporate interests from risking the region's water security.

TCD Picks » Upway Spotlight

💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands

"It's critical that we safeguard New Hampshire from foreign adversaries like China," said New Hampshire Gov. Kelly Ayotte. "We need to ensure we aren't allowing any national security threat to take root in our state."

How often do you worry about the quality of your drinking water?

Never 👎