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SIIC Environment extends concessionary period at Shandong waste water plant
SIIC ENVIRONMENT Holdings has extended a transfer-operate-transfer waste water plant project in China's Shandong province, the mainboard-listed environment solutions provider said on Friday during the market's mid-day break.
A supplementary agreement that its 75.5 per cent-owned subsidiary signed with local authorities in Dezhou city now extends the concessionary period from 20 years to 30 years.
The deal also hikes the base water tariff for the Dezhou City Wastewater Treatment Plant project from 0.89 Chinese yuan (S$0.18) a tonne to 1.264 yuan a tonne, with the discharge standard upgraded from Grade 1B to Grade 1A. The plant was designed with a daily capacity of 100,000 tons.
SIIC Environment's 46.42 million yuan project for upgrading works is expected to positively contribute to its performance in future, the company added in its announcement on the Singapore Exchange website.