SIIC Environment snags $10.9m wastewater treatment project in China

SINGAPORE - A wastewater treatment project valued at 54.6 million yuan (S$10.9 million) in China's Heilongjiang province has been awarded to SIIC Environment Holdings, the mainboard-listed firm said on Wednesday (Dec 12).

The project in Xinglong Town in the province's Bayan County was awarded to the water treatment and environmental protection firm by Bayan Water Authority.

In a filing with the Singapore Exchange, SIIC Environment said that the service concession arrangement for the project is 30 years, with the first year allocated for building and construction, and the remaining 29 years for operating and maintenance.

The Grade 1A project is on a 31,985 square metre (sq m) plot with a building floor area of 1,806 sq m. It will have a sludge moisture content of less than 60 per cent, and will start operations with a design capacity of 10,000 tonnes per day, which can be scaled up to 40,000 tonnes per day in the future, SIIC Environment said.

As a result of being awarded the project, SIIC Environment has incorporated an indirect wholly owned subsidiary, Bayan County Longjiang Environmental Protection, to fulfill the project's obligations. The project is expected to contribute positively to the performance of the group. The subsidiary has a registered capital of 16.38 million yuan.

SIIC Envrionment shares were trading flat at 26.5 cents before entering the midday break.