Sapphire Corporation bags 64m yuan contract to upgrade water treatment facility in China

MAINBOARD-LISTED Sapphire Corporation Ltd, an integrated infrastructure design and construction group in China, has secured a 64 million yuan (S$12.7 million) contract for the design, engineering and construction work related to the upgrading of a water treatment facility in Chengdu, China.

The project is estimated to take six months to complete.

Sapphire Corporation will recognise revenue based on the progressive completion of the project. The group said that it is expected that this contract will have a positive impact on its financial performance during the period.

Wang Heng, chief executive officer of Sapphire, said: "While this is a small upgrading contract, it is a critical piece of water infrastructure for the growing city of Chengdu. We are committed to help more cities develop access to water resources and contribute to the maintenance and improvement of the water environment in China by developing reliable water infrastructures."