Sembcorp Ind

Sembcorp Ind: Small contract win. Enters into JV with Chinese partner Jiangsu Province Lvsi Coastal Economic Zone Development & Construction Co (Lvsi D&C) to build, own and operate an industrial wastewater treatment plant in the Qidong Lvsi Port Economic Dev Zone, Jiangsu. The JV will have a combined investment of Rmb80m and Sembcorp will own a 95% stake in the JV. The plant will have capacity of 10k cubic m per day with initial expected at 5.8k cubic m per day. This is expected to be completed by end 2013 and will serve its anchor state-owned customer China National Chem Engrg Grp under a 15 yr contract. Co currently trades at a fwd P/E of aaprox 10.5x