A 50,000 m³/d membrane-based wastewater treatment plant is to be built in Jiangsu Province, China, by United Envirotech of Singapore under a contract worth RMB 220 million (US$ 34.5 million).
The first phase of the build-operate-transfer project for an industrial park in Dafeng City will involve construction of a 10,000 m³/d membrane bioreactor plant and is scheduled for completion within 9 months.
The contract is United Envirotech’s second in Dafeng City and will be funded through a combination of proceeds from the last share placement and bank financing.
Dr Lin Yucheng, chairman and CEO of United Envirotech, said, “Our successful completion of our first project in Dafeng city has won us recognition for our technology and capability from the local authorities and positioned us favourably against other bidders for the project. We are confident in the prospects of Dafeng city as we have seen the tremendous progress made in Dafeng city over the years.”
Earlier this month, the United Envirotech group announced that it has entered into a purchase agreement with investment firm Kohlberg Kravis Roberts & Co LP for a US$ 113.8 million convertible bond investment.