27 Nov 2015
Everbright Water Secures Beijing Daxing Tiantanghe Waste Water Treatment Upgrading and Expansion ProjectSingapore, 27 November 2015 - China Everbright Water Limited ("Everbright Water" or the "Company", SGX: U9E) (中国光大水务有限公司), an environmental protection company focusing on integrated environmental water services, is pleased to announce that it has signed a supplementary concession agreement with the People's Government of Daxing District, Beijing for the upgrading of Beijing Daxing Tiantanghe Waste Water Treatment Project ("Tiantanghe WWT Project" or the "Project") Phase I and the expansion of Project Phase II.
Tiantanghe WWT Project adopts a semi-underground construction and fully-enclosed model. Project Phase I has a daily waste water treatment capacity of 40,000 m3. The total investment for the upgrading of Project Phase I and expansion of Project Phase II is approximately RMB228 million. Project Phase II has a designed daily waste water treatment capacity of 40,000 m3. Upon completion, the daily waste water treatment capacity of Tiantanghe WWT Project will reach 80,000 m3. The water discharge will comply with the standard as category IV surface water, which is higher than the National Grade 1A standard. The upgrading and expansion project is expected to be completed and to commence operation in the second half of 2016. By then, the water tariff of Tiantanghe WWT Project will increase by approximately 85.7%.
Mr. Wang Tianyi, Executive Director & Chairman of Everbright Water, said: "Tiantanghe WWT Project is a milestone project in the waste water treatment industry in China. Securing the upgrading and expansion project lays a solid foundation for the Company to expand its market share in Beijing. Most importantly, this Project marked a strategic move for the Company as this is the Company's first project complying with the discharge standard of category IV surface water. It will also take on an exemplary role in the waste water industry. Leveraging on the strategic location of the Project in Beijing, the Company strives to further develop our business in the Beijing-Tianjin-Hebei economic region."