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SIIC Environment unit wins wastewater project in China's Yiyang North City
A subsidiary of SIIC Environment Holdings has been awarded a wastewater project in China that is expected to entail an investment of 99.48 million yuan (S$20.7 million).
The 75.5 per cent-owned subsidiary, SIIC Environment (Yiyang North City) Wastewater Treatment Co, was awarded the Yiyang North City Wastewater Treatment Phase 2 and Upgrade build-operate-transfer project by Yiyang North City's Housing and Urban Development Bureau.
The project involves the construction and operation of a wastewater treatment plan, with a design capacity of 40,000-80,000 tonnes a day. It has a concessionary period of 30 years, with an upgrade of the water discharge standard from Grade 2 to Grade 1A.
This is not expected to have a material impact on the firm's net tangible assets and earnings per share for the current financial year, said SIIC Environment.