CITIC Envirotech wins 2 EPC contracts worth $98 mil

Stanislaus Jude Chan

SINGAPORE (Dec 6): Mainboard-listed environmental solutions provider CITIC Envirotech announced Thursday it has secured two engineering, procurement and construction (EPC) projects worth a total of RMB 490 million ($97.7 million).

The first project, which has a contract value of RMB 350 million, involves the construction of the Andongyuan Integrated Wastewater Treatment Plant in the Jinjiang Economic Development Zone in Jinjiang City of China’s Fujian Province.

Expected to be completed by Nov 2019, the plant has a design capacity of 80,000 cubic metres per day and will primarily treat wastewater from the textile and dyestuff tenants located within the industrial zone.

The second project, which has a contract value of RMB 140 million, involves the expansion of the Nancun Water Purification Plant in Panyu District in China’s Guangdong Province.

Expected to be completed by Oct 2019, the plant will see its capacity expanded to 80,000 cubic metres per day upon completion of the project, up from the current capacity of 30,000 cubic metres.

“Our latest contract wins stand as a testament to the group’s proven track record in both large-scale municipal and industrial MBR projects,” says Hao Weibao, CITIC’s executive chairman and group chief executive officer.

“Coupled with the Chinese government’s strong commitment and drive towards environmental protection and pollution reduction, we are well-positioned to leverage on these opportunities given our advanced environmental technologies and proven track record in the industry,” he adds.

Shares in CITIC Envirotech closed 2 cents lower, or down 4.6%, at 41.5 cents on Thursday.