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| Monday, 18 August 2014, 17:35 HKT/SGT | |
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HONG KONG, Aug 18, 2014 - (ACN Newswire) - Sound Global Ltd. ("Sound Global", or the "Company"; Stock Code: 00967.HK) is pleased to announce that the company has entered into a contract to acquire Bazhong Best Environmental Investment Limited, with which Sound Global have obtained two projects of the acquiree in Enyang District, Bazhong City, namely the Phase I Urban Sewage Treatment Plant Project and the Phase I Urban Water Supply Project.
These projects are located in Enyang District, Bazhong City of Sichuan Province. These projects are invested and constructed by Sound Global. For the Phase I Urban Sewage Treatment Plant, daily sewage treatment capability is designed to be 15,000 cubic meters, and the long-term daily treatment capacity is designed to be 30,000 cubic meters. The aggregate investment for this Phase I project is RMB54 million and its concession period is 30 years. For the Phase I Urban Water Supply Project, daily water supply amount is designed to be 30,000 cubic meters, and the long-term daily water supply is designed to be 80,000 cubic meters. The aggregate investment for this Phase I project including pipe network is RMB89 million and the permanent operational right is granted. These two projects protect the quality of drinking water and the eco-system of the Three-Gorges-Reservoir area as well as its safety of drinking water and also plays an important role in building Bazhong City into a National Pilot Area for Urban-Rural Comprehensive Reform.
Mr. Wen Yibo, Chairman of Sound Global, comments that the success in securing these projects marks another breakthrough for the bundled investments of Sound Global in Sichuan Province following its successful bid for the project in Tongchuan District, Dazhou City. These projects set outstanding examples on complying with the policies set out in the "Circular of the State Council on Policies and Measures Concerning the Large-scale Development of China's Western Regions", such as strengthening centralized management on water resources of the watershed and strictly implementing systematic water consumption and allocation plan to utilize and develop water resources properly.
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
https://www.acnnewswire.com
From the Asia Corporate News Network
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