06 Mar 2017
China Everbright Water Secures Multiple Upgrading ProjectsSingapore, 6 March 2017 - 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 recently secured three waste water treatment upgrading projects, involving a total investment of approximately RMB210 million. The three projects include Shandong Zibo Zhoucun Waste Water Treatment Project Phase I Upgrading ("Zhoucun Upgrading Project"), Liaoning Dalian Chunliuhe Waste Water Treatment Project Phase II Upgrading ("Chunliuhe Phase II Upgrading Project") and Liaoning Dalian Quanshui Waste Water Treatment Project Upgrading ("Quanshui Upgrading Project").
The total investment for Zhoucun Upgrading Project is approximately RMB15.8 million, which involves upgrading of the existing project with a daily waste water treatment capacity of 40,000 m3. The upgrading works will mainly focus on the treatment of chemical oxygen demand and pollutants such as NH3-H in the waste water, and the waste water treatment capacity of the project will remain unchanged. Following the project's completion of construction and commencement of operations, the tariff is expected to increase in accordance with the relevant agreement. The upgrading works are estimated to be completed within the first half of this year.
The investments for Chunliuhe Phase II Upgrading Project and Quanshui Upgrading Project are approximately RMB144.98 million and RMB49.37 million respectively, with no change to their waste water treatment capacity. Upon completion of the upgrading works, the water discharge quality will be upgraded from the national Grade 1B standard to the national Grade 1A standard. Once the two projects complete construction and commence operations, the tariffs are expected to rise according to the relevant agreements. The upgrading works are estimated to be completed by the end of the year.
Mr. An Xuesong, Executive Director and Chief Executive Officer of Everbright Water, said, "It has been more than one year since Everbright Water completed the acquisition of Dalian Dongda Water Co., Ltd. ("Dongda Water"). Our integration efforts have been progressing in a systematic manner and the Company achieved initial results over the past year - a significant improvement is shown in several aspects, such as operation management and tariff collection. Out of the three newly-secured upgrading projects, there are two projects originally from Dondga Water. With the implementation of these upgrading projects, waste water treatment tariffs are expected to be adjusted accordingly. Based on Everbright Water's management philosophy of Integrity, Pragmatism, Efficiency and Innovation' and coupled with the strong support of our controlling shareholder China Everbright International Limited and the favorable national policies, we are confident that Everbright Water will continue to grow steadily and progress to the next level."