Company Briefs: Citic Envirotech

Citic Envirotech

Water treatment firm Citic Envirotech has secured two waste-water treatment projects with a total investment of 147 million yuan (S$32 million).

The first is a joint venture with Xiaochang Philip Water, in which Citic has a 95 per cent stake. The joint venture, which has a total paid-up capital of 40 million yuan, has invested 64 million yuan to acquire a municipal waste-water treatment plant in Xiaochang county, Hubei province, with a concession period of 27 years.

Citic has also acquired an industrial waste-water treatment plant in Zao Zhuang City, Shandong province, with a concession period of 30 years. The firm plans to build another plant there with similar capacity, making a total investment of 83 million yuan.

Both projects will be funded by proceeds from Citic's issuance of US$175 million (S$238 million) of senior perpetual securities last November.

HLH Group

Agriculture and property firm HLH Group has released 437 apartments in phase two of its maiden property project in Cambodia.

D'Seaview in the port city of Sihanoukville has sold all 300 units put up for sale in the first phase.

Piling is under way for the project. Construction is expected to be completed in 28 months, the group said in January.

D'Seaview was launched in September last year with units selling from US$675 to US$1,943 (S$914 to S$2,630) per sq m.

HLH Group said it plans to launch more developments in the country this year, including in Sihanoukville and Phnom Penh.

Midas Holdings

Midas Holdings has secured contracts totalling 247.7 million yuan (S$52 million) to supply car body components for high-speed and metro trains.

The contracts were awarded by CRRC Changchun Railway Vehicles to Midas unit Jilin Midas Aluminium Industries.

The parts are slated for delivery this year.

The high-speed train contracts, worth 217.3 million yuan, involve supplying aluminium alloy extrusion profiles and fabricated parts.

Jilin Midas will also supply aluminium alloy extrusion profiles worth 30.4 million yuan for the Shanghai Metro Line 17.

A version of this article appeared in the print edition of The Straits Times on March 18, 2016, with the headline 'Company Briefs: Citic Envirotech'. Print Edition | Subscribe