SIIC Environment unit clinches 63.8 million yuan wastewater treatment project in China

A WHOLLY owned subsidiary of SIIC Environment has clinched a 63.8 million yuan (S$13.9 million) project by the Wuhan City municipal government in China.

Under the build-operate-transfer project, Wuhan Huang-Pi Kaidi Water Services will build and operate a wastewater treatment plant with a design capacity of 25,000 tonnes a day at the 1A grade, and for a concessionary period of 30 years. In the near term, the plant has a design capacity of 50,000 tonnes a day, and in the long term, 100,000 tonnes a day.

The contract is not expected to have any material impact on the firm's earnings and net tangible assets per share for the current financial year.

The counter closed trading unchanged at 19.2 Singapore cents on Thursday, before the release of the announcement.