Source: SGX Masnet
Hyflux Water Trust (“HWT”) announced that HWT’s wholly-owned subsidiary, Hyflux NewSpring (Yangzhou) Co., Ltd, has been granted an exclusive 20-year concession by the people’s government of Jiangsu Province, China to build, own, operate and transfer an expansion plant next to HWT’s existing waste water treatment plant in the Yangzhou Chemical Industrial Park. Upon expiry of the concession agreement, HWT as a first right to negotiate for an extension of the concession term.
With a design capacity of 20,000m3/day, and an estimated project cost of RMB 50 million, the expansion plant is HWT’s second plant in the Yangzhou Chemical Industrial Park, the first being the existing waste water treatment plant, which was acquired by HWT as part of the initial portfolio of HWT upon its listing.
The combined design capacity of the two plants will be 40,000m3/day. The expansion plant is required to meet the growing industrial demand for waste water treatment in the concession area.
Construction of the expansion plant is expected to begin in the second quarter of 2008. Operation is expected to commence in mid 2009, with full capacity utilization by 2011.
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