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| Friday, 16 January 2015, 12:58 HKT/SGT | |
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HONG KONG, Jan 16, 2015 - (ACN Newswire) - Sound Global Ltd. ("Sound Global" or the "Company", Hong Kong Stock Code: 967) has continued to make active progress at the beginning of year 2015 with new projects. The projects announced recently by the Company are Qingcaohe water supply BOT project, Hongze phase II expansion project and acquisition of Xingping Hualu.
Water Supply Project
This project is a BOT Project in relation to Qingcaohe Water Plant in Jing County, an ancillary works of the South-to-North Water Diversion Project in Hengshui City. The Project will be invested and constructed by Sound Global. With a designed water supply capacity of 40,000 tonnes per day, the short-term construction of this project will be implemented in two phases. Phase I will involve 40,000-tonne civil work with water treatment capacity of 20,000-tonnes. The water output quality shall comply with the 106 standards of The Standards for Drinking Water Quality (GB5749-2006). Total investment is approximately RMB 63.56 million.
Expansion Project
This project is the expansion project of the sewage treatment plant in Qingjian, Hongze County, Jiangsu Province ("Hongze Project Phase II"). The expansion capacity will be 20,000 tonnes per day with an estimated additional total investment of RMB 100 million. The entire Hongze Project would be built and operated according to the BOT model. Total capacity is 60,000 tonnes per day, and the concessional operation period of the project is 28 years. The project is to be built in three phases. Currently, phase I provides capacity of 20,000 tonnes per day, which mainly treats sewage from chemical salt enterprises and households within a 18km2 area. The phase I project was constructed and commenced operations by the end of 2011.
Acquisition
Sound Global has acquired the entire equity interest in Xingping Hualu Sewage Treatment Co., Ltd. at a consideration of RMB97,623,540. Xingping Hualu Sewage Treatment Co., Ltd. is wholly-owned by Hualu Engineering & Technology Co., Ltd.. Hualu Engineering & Technology Co., Ltd., formerly known as the Sixth Design Institute under the Ministry of Chemical Industry, is a wholly-owned subsidiary of China National Chemical Engineering Co., Ltd. which is owned by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Xingping Hualu Sewage Treatment Co., Ltd. has obtained the concession rights to operate Phase I of Xingping Sewage Treatment Plant BOT project for a concessional period of 25 years. Phase I of the project will have a designed sewage treatment capacity of 50,000 tonnes/day. Its discharged water quality will meet the first class-A grade standard as required under "Pollutants Emission Standards of Urban Sewage Water Treatment Plants" (GB18918-2002).
Sound Global has laid a strong foundation over the past few years with its integrated competitive advantages in technology know-how, management expertise, capital and full industry chain, which allow the Company to make a good start of year 2015 with new projects. By fully leveraging on such comprehensive advantages, Sound Global would be able to further capture any opportunities which may arise in water supply, wastewater, expansion project and acquisition, for further growth at a larger scale and continue its leading position in the industry.
Notes:
Build, Operate and Transfer Projects ("BOT")
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(1) 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.
(1)SMART: Small & Skillful, Multiple & Modular, Active & Automatic, Rapid and Technologic
Topic: Press release summary
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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