Mainboard-listed United Envirotech Ltd (UEL) has signed an agreement to build a RMB200 million wastewater plant in Neijiang City in China.
The 4.25 million-populated city is one of the 9 cities in Sichuan Province that is earmarked for intensive economic development.
Under the Built-Transfer arrangement, the newly-constructed plant, with a daily capacity of 50,000 cubic metres, will treat wastewater from Neijiang Xi Industrial Park.
Under the agreement, UEL will form a joint venture company with Neijiang Investment Holdings Company and the Neijiang Economic Development Committee.
The joint venture will acquire an existing 50,000 cubic metres-per-day municipal wastewater treatment plant and undertake expansion work to double the existing treatment capacity.
The joint venture will also be involved in the project of supplying 100,000 cubic metres of potable water to Neijiang City daily.
