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| Tuesday, 14 October 2014, 16:50 HKT/SGT | |
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HONG KONG, Oct 14, 2014 - (ACN Newswire) - Sound Global Ltd. ("Sound Global" or the "Company"; stock code:967) is pleased to announce that it has recently entered into a contract in respect of the construction of the 6th water supply plant in Jilin City, Jilin Province, China.
The project, located in Jilin City, Jilin Province, will be invested and built by Sound Global. The daily water supply capacity of the project is designed to be 600,000 cubic meters for a long term and 200,000 cubic meters for a short term. Total investments of the 6th water supply plant will be approximately RMB596 million. The project has a construction period of 2 years and will be purchased by the local government within 3 years after completion. The installments for such purchase are 40% for the first year and 30% for the second and third year. The installment plan will be included in the annual fiscal budget of the local government and the investor will be guaranteed with the operation right of the project.
Mr. Wen Yibo, Chairman of Sound Global, commented that Jilin City, a core city in the Changchun-Jilin Integration Plan of the "Twelve Five-Year Plan" and the "Plan for Revitalising the North-eastern Region", has made significant contributions to the sustainable development of our national economy over the years. However, inadequacy of water supply and water pressure, water pollution and other problems in Jilin City have increasingly restrained its economic development. Construction of the project will significantly improve water supply in Jilin City. Investment in the 6th water supply plant in Jilin City will facilitate the Company to secure more municipal water supply projects in the North-eastern Region. In addition, sustainable economic development in the North-eastern region will also accelerate the market penetration of Sound Global throughout the country.
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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