China Everbright Water bags project worth 253m yuan

CHINA Everbright Water has, through its wholly owned subsidiary, entered into a supplementary agreement for an upgrading project worth 253 million yuan (S$52.3 million) in China's Shaanxi province.

The project is based on a build-operate-transfer model and will involve waste-water treatment plant upgrading and advanced sludge dewatering for the Xianyang waste-water treatment project, the environmental protection company said on Monday.

The concession period of the project will expire concurrently with the Xianyang waste-water treatment project Phase One and Phase Two in October 2031 and December 2044 respectively.

Following the upgrading, the discharged water of Xianyang project Phases One and Two will meet a higher discharge standard set out by Shaanxi province. It will further reduce the water content of sludge generated by Xianyang project Phases One and Two to no higher than 60 per cent.

China Everbright Water said: "Securing the Xianyang upgrading project will further strengthen Everbright Water's waste-water treatment service capability in Xianyang. It will also enhance the cooperation between the company and the local government authorities, and lay a good foundation for the company to secure more water projects in the local market."

Shares of China Everbright Water ended up 0.5 Singapore cent or 1.9 per cent at 26.5 cents on Monday.