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Publish Date : 24-Dec-2012

SIIC Environment Holdings Ltd on Friday said its subsidiary, Nanfang Water Co Ltd, had been awarded a Transfer-Operate-Transfer wastewater project in Wuchuan City, Guangdong Province with investment value of 75.1 million yuan (S$14.5 million).

The investment will be fully satisfied in cash and financed through a loan from a wholly owned subsidiary of Shanghai Industrial Holdings Limited, a controlling shareholder of the company.

The wastewater treatment plant will have a design capacity of 40,000 tons for 25 years, and it will have a minimum off-take guarantee from the Wuchuan City municipal government.

Subsequently, Nanfang Water will incorporate a wholly owned project company in China, Zhanjiang City Nanfang Water Co Ltd, to undertake the operation and maintenance of a wastewater treatment plant. The new company will have a registered capital of 30 million yuan.

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