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| Thursday, 18 December 2014, 21:00 HKT/SGT | |
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HONG KONG, Dec 18, 2014 - (ACN Newswire) - Sound Global Ltd. ("Sound Global" or the "Company") is pleased to announce that Sound Global, the People's Government of Shan County, Shandong and Yixing Huadu Green Environmental Co. Ltd. entered into the Supplemental Agreement to the Agreement in respect of the Franchise for Surface Water Supply Plant in Shan County, Shandong. Meanwhile, Sound Global also has acquired 100% equity interests in both Advanced Resources Holdings Pte. Ltd. ("ARH") and Advanced Water Engineering Pte. Ltd. ("AWE") for a total consideration of RMB72.50 million and S$1,954,116.28.
Acquisition of Assets in Shandong
Pursuant to the Supplemental Agreement, the parties agreed that Sound Global shall acquire 100% equity interests in Huadu Water Co., Ltd. in Shan County and obtained the water supply project in Huadu County, Shandong. It has a licensed operating term of 30 years. The Agreement can be extended for further 5 years upon expiry. The aggregate investment for the project is approximately RMB120 million, which includes investment in conversion and extension. The water supply project in Shan County,Shandong is the only watersupply project in Shan County. The daily water supply capacity of the project is designed to be 50,000 tonnes/day for a short term and 100,000 tonnes/day for a long term. As the project currently serves a total population of approximately 300,000 and the county has a planned urban population of 700,000 in the long term, the project is anticipated to have huge potential for capacity expansion in the future.
Shan County is well known as the origin of martial art, couplets, tomatoes and grey goats. With a population of over 140 million, Shan County is one of the most populated counties in Heze region of Shandong. The acquisition will lay a sound foundation for full expansion of the Company's regional water supply business in Shandong, Jiangsu and Anhui. Meanwhile, Sound Global has been granted the right of priority for the investment, construction and operation in respect of integration of regional water supply and drainage in Shan County and the right of priority for the new franchise in respect of the water supply project in Shan County.
Acquisition of Assets in Sichuan
ARH and AWE are wholly owned by Advanced Holdings Ltd, a company listed on the Singapore Stock Exchange. ARH and AWE operates the following projects: the BOT project for Mumashan Sewage Treatment Plant in Shuangliu County, Chengdu, Sichuan Province ("Mumashan Sewage Treatment Plant"); the TOO project for Pengxi County Water Supply Plant in Suining City, Sichuan Province ("Pengxi Water Supply Plant") and (the "Technology Company").
Mumashan Sewage Treatment Plant has a designed sewage treatment capacity of 19,800 tonnes/day in the short term and 100,000 tonnes/day in the long term. By adopting the CASS technology, the water quality will meet the A Standard of First Grade as set out in the "Pollutant Discharge Standards for Municipal Sewage Treatment Plants" (GB18918-2002).
Pengxi County Water Supply Plant is the only water supply plant in Pengxi County, with a water supply capacity of 30,000 tonnes/day. As the plant currently serves a total population of approximately 140,000 and the county has a planned urban population of 500,000 in the long term, Pengxi County Water Supply Plant is anticipated to have huge potential for capacity expansion in the future. Following this acquisition, Sound Global will proceed with expansion projects for the sewage treatment plant and the water supply plant, and fully expand its regional sewage treatment business and water supply services business in various regions including Sichuan Province, Guizhou Province and Yunnan Province by capitalizing on the strength of the Technology Company and the design team as well as the market influence of the Company.
While focusing on investment in urban water supply and sewage BOT projects, Sound Global is also aggressively implementing a more diversified and dynamic M&A expansion model to expand its service coverage from cities to neighbouring counties and towns in respect of water supply and discharge and to achieve market penetration in terms of scope of services and geographical coverage.
Notes
SMART: Small & Skillful, Multiple & Modular, Active & Automatic, Rapid and Technologic
About Sound Global Ltd.
Sound Global is the leading one-stop integrated water and wastewater treatment solutions providers in the PRC. The Company offers services covering the full value chain of the water and wastewater treatment industry - from the design and construction of water and wastewater treatment facilities, to the operation and maintenance of water and wastewater treatment facilities and the manufacture of water and wastewater treatment equipment. With advantages in technology, capital, management and whole industry chain, Sound Global has earned a high reputation within the water industry for its excellence since its founding. The Company has very extensive business networks covering all major provinces in PRC. On top of coverage in domestic market, sound global has also penetrated into overseas market in 2009 and continued expanding its business presence internationally. Sound Global is the first Chinese water enterprise that successfully won the bid for the overseas water project.
The Company places significant emphasis on its in-house design capability and the innovative adaptation and application of technologies to offer customized, cost-effective and practical solutions for the diverse challenges presented by the treatment of municipal and industrial water and wastewater. With strong R&D and technical capacity, Sound Global could provide wastewater treatment solution for all major industries, particularly coking, metallurgy and petrochemical industries who demand highly sophisticated wastewater treatment technologies.
In 2011, Sound Global expanded into the markets of environmental management in China's suburban-rural areas. Sound Global researched and developed a new program -- the "Sound Global SMART Solution for wastewater treatment in Small Townships". This program was implemented in 18 bundled wastewater treatment projects in Changsha County of Hunan Province. This integrated wastewater treatment programs, developed by Sound Global, established successful models for wastewater treatment in suburban-rural areas of China.
Topic: Press release summary
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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