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| Tuesday, 14 January 2014, 18:30 HKT/SGT | |
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HONG KONG, Jan 14, 2014 - (ACN Newswire) - Sound Global Ltd. ("Sound Global", or the "Company"; Hong Kong Stock Code: 00967.HK; Singapore Stock Code: E6E) is pleased to announce that the Company has signed two contracts in Xinjiang Province: the contract for the construction of No. 3 sewage treatment plant in Yining City and the contract to undertake a sewage treatment BOT project in Tacheng City.
The contract for the construction of No. 3 sewage treatment plant in Yining City
The project, with designed mid-term sewage treatment capacity of 50,000 m3/day and near-term sewage treatment capacity of 25,000 m3/day respectively, is located in Huoerguosi Economic Development Zone ("the Zone"), Yining city, Xinjiang Uygur Autonomous Region. The project, funded by Sound Global with an aggregate investment of RMB230 million, is planned to commence by the end of 2013 and expected to complete in 2014. As an important part of infrastructure construction within the Zone, No.3 sewage treatment plant, upon completion, will play an important role in providing comprehensive services to enterprises based in the Zone as well as greatly improve the living environment of local residents and the investment environment of the Zone, attract more enterprises to be settled in the Zone and completely solve the sewage treatment problem at the west of Piliqing river so as to promote the development of production activities and living condition in the Zone. The project has a great significance for the sustainable development of Yining City.
The contract to undertake a sewage treatment BOT project in Tacheng City
The project is located in Tacheng City of Xinjiang Uygur Autonomous Region, one of the gateways to Western China. The project will be invested by Sound Global, and phase one of the plant will have a designed sewage treatment capacity of 40,000 m3 per day. The BOT (Build; Operate; Transfer) mode will be adopted in the investment, construction, operation and delivery of the plant. Sound Global will invest an aggregate of RMB80 million in phase one of the project, and the concession period granted to Sound Global is 30 years. The construction of ancillary drainage network will adopt a "Build - Transfer" mode, with total investment of RMB60 million.
Mr. Wen Yibo, Chairman of Sound Global said "The existing sewage plants in Yining city can no longer handle the function of sewage treatment effectively as the pace of the social and economic development in Yining city and the process of new industrialization have become increasingly repaid, and the increasing number of major projects to be carried out in Yining Economic Corporation Zone. Direct discharge of sewage is strictly prohibited along the Ili River which is regarded as an international river. There will be material adverse impact on industrial development in the Zone if the problem of sewage treatment cannot be solved properly. Meanwhile, the sustainable development of Xinjiang is conductive to the strategic presence of Sound Global throughout China."
Mr. Wen also claimed "Tacheng City locates at the northwest of Xinjiang Uygur Autonomous Region, sitting in Tacheng Basin riding on the northwest rim of Junggar Basin, and only 12 kilometers east of Baketu Port, a class 1 port at national level. Tacheng City is one of the open cities in close proximity to the border. Sound Global believes that, by entering into the contract to undertake a sewage treatment BOT project in Tacheng City, it will help establish an effective channel to distribute its technology and equipment. Meanwhile, leveraging on its competitive advantages in technology, funding, project management and complete industrial chain, this project will accelerate the Company's steps in expanding its foothold in this area and make contributions to local environmental protection and development. The project will play an important role in protecting the water quality, ecosystem and drinking water sources in Tacheng area, Xinjiang, and also has great significance in energy conservation, emissions reduction and promoting sustainable development."
About Sound Global Ltd.
Sound Global is one of China's leading turnkey water & wastewater treatment solutions providers. Backed by extensive R&D and technical expertise, it has successfully completed many award-winning projects. The Group develops proprietary technologies and customizes them into effective turnkey solutions for industrial and municipal projects. It has a strong marketing network in China, where it is much sought after for its strong design and engineering project management capabilities. In 2006, Sound Global diversified into the management of water treatment plants. It has also invested in build, operate and transfer (BOT) projects to diversify its project portfolio. The Group acquired Beijing Hi-Standard Water Treatment Equipment Co., Ltd, progressing towards its aspiration of becoming a fully integrated services provider. Sound Global was named one of the Top Ten Influential Water Industry Engineering Companies in China in 2007 and ranked first among the Top Ten Outstanding Engineering Companies in 2009. Executive Chairman Wen Yibo was named one of the Top Ten Influential People in the Water Industry in China in 2005, 2006 and 2007.
Topic: Press release summary
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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