Uni-Asia consortium wins tender to develop, operate Japan public work facilities project
Elysia Tan
A CONSORTIUM group led by Uni-Asia Group ’s wholly-owned subsidiary Uni-Asia Capital (Japan) has won a tender to develop and operate a private finance initiative project in Japan with its bid of 13.1 billion yen (S$118 million).
The public work facilities development project, called for by the government of Kuki City, Saitama Prefecture, involves building a public use facility which uses residual heat from an existing waste treatment plant in the city, the group said in a Friday (Dec 1) bourse filing.
The facility will include a fitness centre, public park, pool and bathhouse. Development is expected to take place in 2027. Following its completion, the consortium will operate the facility for 20 years.
The new development marks Uni-Asia Group’s second private finance initiative project. Its first, which was in Saitama Prefecture’s Wako City, was completed in December 2021.
“This project is in line with the group’s commitment to good corporate citizenship and sustainable business practices, and its belief in creating shared value and improving the impact of its businesses on society,” it said.
“The utilisation of residual heat from the waste treatment plant to heat up the public pool and public bathhouse would be beneficial to the climate by reducing reliance on fossil fuel for heating.”
As its asset manager, Uni-Asia Capital (Japan) will earn recurrent fees once the facility completed. The project is not expected to have any material impact on the company’s net tangible assets per share, earnings per share and operating results in the current financial year.
Shares in the group closed flat at S$0.935 on Friday, before the announcement.
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