Hyflux secures three water projects in China
Hyflux has been awarded three water treatment projects worth about RMB 207 million in China, including: operation of a potable water plant and a contract to build/own/operate a wastewater treatment plant, both in Jiangxi Province; and a contract to build/operate a potable water plant in Hunan Province. The works are expected to be completed in late 2008. With the addition of these three new projects, Hyflux has now under operation and construction thirty one municipal projects in China...
SINGAPORE, Jan. 24, 2008 -- Hyflux Ltd is pleased to announce that its wholly owned subsidiaries (collectively referred to as "Hyflux") have been awarded the following water treatment projects worth about RMB 207 million in China.
(1) Potable Water Plant in Jiangxi Province, Leping District, China
Hyflux has executed a concession agreement with the People's Government of Leping District to operate a potable water plant with a designed capacity of 30,000 m³/day. Under the concession agreement, Hyflux has the exclusive right to build, own and operate the potable water plant for a period of 30 years.
The total project investment cost for the potable water plant is estimated to be RMB 45 million, and the expected commencement date for commercial operations is late 2009.
(2) Waste Water Treatment Plant in Jiangsu Province, Funing District, China
The People's Government of Funing District has granted exclusive concession rights for a period of 30 years to Hyflux to build, own and operate a waste water treatment plant with a designed capacity of 20,000m³/day.
The expected commencement date for commercial operations of the waste water treatment plant is the second quarter of 2009, and the estimated project investment cost is RMB 42 million.
(3) Potable Water Plant in Hunan Province, Taoyuan City, China
Hyflux has been invited by the People's Government of Taoyuan City to undertake works to complete and operate a potable water plant under a concession agreement for 30 years. The concession rights are exclusive to Hyflux. Upon completion of the works, the potable water plant shall have a designed capacity of 60,000 m³/day. This is Hyflux's first potable water plant in Taoyuan City.
The works are expected to be completed in late 2008, at an estimated value of RMB 120 million. Under all the above concession agreements, Hyflux has a first right to negotiate for the extension of the concession agreements upon expiry of the respective concession terms.
Group CEO and President Ms Olivia Lum says that: "Hyflux is now receiving repeated awards of concession agreements for water treatment plants by local municipalities at similar locations within a year and continues to secure foot prints in locations not previously ventured into. These achievements are a recognition of Hyflux' s capability and track record"
With the addition of these three new projects, Hyflux has now under operation and construction thirty one municipal projects comprising of a total of thirty nine water treatment plants in China. These projects will be funded by Hyflux Group from its existing resources and are not expected to have a material impact for the current financial year.
Hyflux is a leading environmental company in Asia, with operations and projects in Singapore & Southeast Asia, China, the Middle East & North Africa and India. Specialising in membrane technologies, Hyflux is today an integrated solutions provider offering services that include process design and optimisation, pilot testing, fabrication and installation, and engineering, procurement and construction.