Sound Global

Sound Global: jointly won a US$50m EPC contract for the Karnaphuli Water Supply Implementation Project in Bangladesh with partner, China National Technical Import & Export Corp. The EPC project comprises of an
i) an Intake Facility (Civil/ Architectural Works for 300k cubic m/ day and Mechanical and Electrical Works for 150k cubic m/ day); and
ii) a Water Treatment Plant (~143k cubic m/ day) 85% of total investment will be funded from bank loans from a Japanese bank (Japan International Cooperation Agency) with the remainder from the Bangladesh govt. The project is expected to take 30 months to complete.

This is the 2nd int’l EPC project that SGL has won after Saudi Arabia and mgt expects this to increase their international recognition for future opportunities and increased market share in China. They beat out almost 20 international organizations to win the bid...

Stock currently trades at 17.2X P/E.