Citic Envirotech obtains three China projects valued at aggregate 1.46 billion yuan

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Citic Envirotech said on Monday that it obtained three China projects valued at an aggregate 1.46 billion yuan.

In the first announcement, the company said it secured an industrial hazardous waste treatment and industrial park development project in Wuji County, Hebei Province, with a total investment of 807 million yuan.

A wholly owned project company, Novo Ji Yuan Environmental Technology (Hebei), with a paid-up capital of 180 million yuan, was formed to undertake the waste treatment project, which has a service concession of 30 years, it said in a filing to SGX after the market close on Monday.

In addition, Citic Envirotech and Wuji County Economic Investment will have 80:20 shareholdings respectively in a project company undertaking the industrial-park development project, which involves building a factory space to be sold to tenants at an investment amount of 275 million yuan, it said.

In a separate filing to SGX on Monday, Citic Envirotech said it secured a 149 million yuan ecological restoration project in three townships in Zhaojui County, Sichuan Province.

Citic Envirotech will demolish the existing townships, and plan, design and build new townships with essential infrastructure and auxiliary facilities, as well as resettle the population into the newly developed townships, it said, adding it will receive a guaranteed return of 14.4 percent on the project value. It will also receive 7 percent a year of any amount financed by the company during the course of the project, it said.

“This project is part of the China government’s initiative to improve the quality of life for the residents of Zhaojue County, who currently reside on rural land area that lack proper facilities and amenities,” it said.

In a third filing to SGX, the company said it obtained a 506 million yuan public-private-partnership (PPP) project in Dongyuan County, Guangdong Province, China.

The project involves the design, construction and operation of 75 wastewater treatment plants and related piping networks and the upgrading of two wastewater treatment plants in the towns and villages, it said. Citic Envirotech will also provide ancillary services in waste management, it said.

The PPP project is part of Guangdong Province’s thirteenth five-year environmental protection plant to develop and beautify the region’s villages and townships by 2020, it said.

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