Oct. 24, 2011 -- Sound Global Ltd. has won a bid to build and operate wastewater treatment plants in five rural towns, the regional water supply and the regional wastewater treatment in Jiangyan City, Jiangsu Province, in the People's Republic of China (the "PRC").
The Jiangyan Project is located in Jiangyan City, Jiangsu Province. Sound Global will invest, build, operate and transfer ("BOT") the wastewater treatment plants in five rural towns with a total daily treatment capacity of 13,000 tonnes, the building and transfer ("BT") of the ancillary facilities for wastewater pipe networks, and the BT of the water supply pipe networks. The concession period of the Jiangyan Project is 25 years and a total investment of approximately RMB480 million. The construction period will last for 14 months and is expected to commence operation by late December 2012.
The Jiangyan Project will take the Company's rural wastewater treatment projects to three after the projects in the Changsha County and the Fushun County.
Upon completion of these projects, the COD of the service regions will decrease significantly, promoting a harmonious and friendly development in the new rural environment.
By winning the Jiangyan Project, Sound Global has fully demonstrated its technical strength in the comprehensive treatment of rural wastewater and its overall strength in the whole industrial chain, including capital, construction, equipment and operation. By fully leveraging on its strengths in the technology, management and an integrated industrial chain and through the utilization of its advanced SMART technology as well as its centralized, modularized and clustered management, Sound Global has significantly simplified the operation and management, reduced operating costs and improved stability, reliability and performances of the system, inventing an economically feasible resolution for the environment improvement in the rural areas in the PRC. Sound Global will continue to tender for other projects in various counties or cities in different provinces in the PRC through the utilization of such technology and under a similar format.
Sound Global's Chairman, Mr. Wen Yibo said, "With 50% of the population living in rural areas in the PRC, the enormous environmental improvement market in the rural areas is at its initial stage. The comprehensive improvement of the environment in villages and urban & rural areas is a challenging task confronting the PRC at present and in the years to come. Sound Global will leverage on the relevant support policies in the PRC and make full use of its advantages in technology, capital, management and the whole industrial chain to provide solutions for the environment improvement in the rural areas in the PRC. There are approximately 25,000 established villages and towns in the PRC, and only about 1% are currently equipped with waste water treatment facilities. The next 10 years will be the 10 golden years of the fastest growth for the urban-rural wastewater treatment, and Sound Global, as one of the leading water enterprises in the PRC, will enjoy better and more sustainable development in the rural market in the coming future."