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Citic Envirotech invests 220m yuan in China sludge treatment project
WATER treatment firm Citic Envirotech said on Wednesday it has secured its first build-own-transfer sludge treatment project in Weifang City, Shandong province, China with a total investment of 220 million yuan (S$45.9 million).
The project involves the design, construction and operation of a 700 tonne-per-day sludge treatment plant to treat sludge generated from six municipal wastewater treatment plants in Weifang City. The project has a concession period of 30 years.
This will be Citic's first project in sludge treatment. When completed by the end of 2016, it will be the largest sludge treatment plant in Shandong province.
The project will be funded by the proceeds from the company's issuance of US$175 million senior perpetual securities in November 2015.