CITIC Envirotech clinches two EPC contracts worth 490m yuan

MAINBOARD-LISTED CITIC Envirotech has clinched two engineering, procurement and construction (EPC) projects worth a total of 490 million yuan (S$97 million), it said on Wednesday.

Both projects will employ the group's advanced proprietary membrane bioreactor technology to treat wastewater.

The first project, which has a contract value of 350 million yuan, involves the construction of the Andongyuan Integrated Wastewater Treatment Plant in the Jinjiang Economic Development Zone in Jinjiang City, Fujian Province.

The plant has a design capacity of 80,000 cubic metres per day and will primarily treat wastewater from the textile and dyestuff tenants located within the industrial zone. The Andongyuan project is expected to be completed by November 2019.

The second project, which has a contract value of 140 million yuan, involves the expansion of the Nancun Water Purification Plant in Panyu District in Guangdong Province.

The plant has a current capacity of 30,000 cubic metres per day, which will be expanded to 80,000 cubic metres per day upon completion of the project by October 2019.

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Shares of CITIC Envirotech fell half a Singapore cent or 1.32 per cent to S$0.375 on Wednesday.