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| Thursday, 3 July 2014, 20:00 HKT/SGT | |
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HONG KONG, July 3, 2014 - (ACN Newswire) - Sound Global Ltd. ("Sound Global", or the "Company"; Stock Code: 00967.HK) is pleased to announce that it has acquired the entire equity interest in Luoyuan Beimei Sewage Treatment Co., Ltd., Luoyuan Beimei Stage 2 Sewage Treatment Co., Ltd. ("Luoyuan Beimei") and Xianyou County Beimei Sewage Treatment Co., Ltd. ("Xianyou Beimei"). The consideration for the equity transfer was approximately RMB84 million. Besides, the company recently won the bid for the BOT project for the sewage treatment plant in the agricultural product processing centre in Dazhou City, Sichuan Province, the PRC
About New Acquisition
Luoyuan Beimei operates the sewage treatment BOT project for the urban area of Luoyuan County, Fuzhou City. Phases I and II of the project will have a sewage treatment capacity of 40,000 tonnes/day and 80,000 tonnes/day, respectively. Currently 20,000 tonnes of capacity of the Phase I project has been put into operation. Its discharged water quality will meet the first class-B graded standard of the "Pollutants Emission Standards of Urban Sewage Water Treatment Plant" (GB18918-2002).The service concession period is 30 years.
Xianyou Beimei operates the sewage treatment BOT project for the urban area of Xianyou County, Putian City as well as the two economically developed upstream regions of Bangtou Town and Gaiwei Town. Phases I and II of the project will have a sewage treatment capacity of 30,000 tonnes/day and 50,000 tonnes/day, respectively. Currently 20,000 tonnes of capacity of the Phase I project has been put into operation. Its discharged water quality will meet the first class-B graded standard of the "Pollutants Emission Standards of Urban Sewage Water Treatment Plant" (GB18918-2002). The service concession period is 30 years. Sound Global will expand and renovate Luoyuan Beimei and Xianyou Beimei in the coming years, which are expected to have good economic efficiency and growth potential, as well as widespread environmental and social influence.
About Township BOT Project
The BOT project for the sewage treatment plant in the agricultural product processing centre in Dazhou City, Sichuan Province, will be invested and built by Sound Global. The BOT project includes the domestic sewage, and the industrial sewage from the agricultural product processing centre, from two towns, namely Pujia Town and Weixing Town, in Dazhou City. The recent sewage volume is 10,000 tonnes/day. The total investment of the project amounts to approximately RMB42.79 million and the service concession period is 30 years. The township sewage treatment technique which is called SMART and developed by Sound Global on its own will be applied in the project. To date, Sound Global has penetrated the township sewage treatment market in the provinces such as Jiangsu, Hunan, Fujian, Shandong, Hebei, Liaoning, Shaanxi, Guizhou and Sichuan. Sound Global would further leverage its unparalleled technical expertise with SMART, focusing on more extensive application of SMART, to maintain its leading position in rural township market.
New acquisition and BOT project are showing an encouraging momentum of accelerated development. Commenting on this acquisition, Mr. Wen Yibo, Chairman of Sound Global, said that the completion of the acquisition would enable Sound Global to penetrate into the "Beautiful Fujian" regional environmental protection service market. In addition to the traditional BOT investment model, Sound Global has also adopted the M&A expansion model flexibly to expand its market presence from cities to towns, which will help accelerate its expansion in terms of both services and geographical coverage. Regarding to the township BOT project, Mr Wen Yibo believes that this project is another breakthrough for Sound Global in the township sewage treatment plant construction in Southwest China. Sichuan is a populous province and has great potential for economic development. Sound Global will fully leverage its advantages in technology, capital, management expertise accumulated for years and the whole industry chain to capture more market share of township sewage treatment in counties and towns.
About Sound Global Ltd.
Sound Global is the leading one-stop integrated water and wastewater treatment solutions providers in the PRC. The Company offers services covering the full value chain of the water and wastewater treatment industry - from the design and construction of water and wastewater treatment facilities, to the operation and maintenance of water and wastewater treatment facilities and the manufacture of water and wastewater treatment equipment. With advantages in technology, capital, management and whole industry chain, Sound Global has earned a high reputation within the water industry for its excellence since its founding. The Company has very extensive business networks covering all major provinces in PRC. On top of coverage in domestic market, sound global has also penetrated into overseas market in 2009 and continued expanding its business presence internationally. Sound Global is the first Chinese water enterprise that successfully won the bid for the overseas water project.
The Company places significant emphasis on its in-house design capability and the innovative adaptation and application of technologies to offer customized, cost-effective and practical solutions for the diverse challenges presented by the treatment of municipal and industrial water and wastewater. With strong R&D and technical capacity, Sound Global could provide wastewater treatment solution for all major industries, particularly coking, metallurgy and petrochemical industries who demand highly sophisticated wastewater treatment technologies.
In 2011, Sound Global expanded into the markets of environmental management in China's suburban-rural areas. Sound Global researched and developed a new program -- the "Sound Global SMART(1) Solution for wastewater treatment in Small Townships". This program was implemented in 18 bundled wastewater treatment projects in Changsha County of Hunan Province. This integrated wastewater treatment programs, developed by Sound Global, established successful models for wastewater treatment in suburban-rural areas of China.
(1)Small & Skillful, Multiple & Modular, Active & Automatic, Rapid and Technologic
Topic: Press release summary
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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