29 May 2017
Everbright Water Secures Lvshun Bailanzi Waste Water Treatment Project UpgradingSingapore, 29 May 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 water environment management, is pleased to announce that it has recently secured the Liaoning Dalian Lvshun Bailanzi Waste Water Treatment Project Upgrading ("Bailanzi Upgrading Project" or the "Project").
Bailanzi Upgrading Project is estimated to command a total investment of approximately RMB42 million. Upon the completion of the upgrading work, the water discharge will comply with the National Grade 1A standard, upgraded from the National Grade 1B standard. The daily waste water treatment capacity will remain at 30,000m3. In addition, the Company will effect water tariff hike according to the relevant agreement, following the completion of the upgrading work and the commencement of the Project's operation. The upgrading work, which is now underway, is estimated to complete by the end of the year.
Mr. An Xuesong, Executive Director and CEO of Everbright Water, said, "Everbright Water has been conducting a series of restructuring and integration following the acquisition of Dalian Dongda Water Co., Ltd. ("Dongda Water"). Through our negotiation and coordination with the local governments, Everbright Water has secured a series of upgrading works for the projects under Dongda Water (the "Dongda Projects"). Such upgrading works not only increased the construction services revenue for Everbright Water but also improved the percentage of the Dongda Projects, which comply with the National Grade 1A standard, from 38% to as much as 70%.
Mr. An Xuesong continued, "The State Council of the PRC recently approved the overall urban planning of Dalian and proposed to develop Dalian into an energy-conservative and environmental-friendly city through a number of measures, such as enhancing integrated urban environment management, improving waste water treatment efficiency, and boosting efficiency of water resource utilisation. We will seize the opportunity to further strengthen our project management capability, raise the discharge standards of our projects, improve the collection of receivables, and also actively expand our business in the local market."