Wednesday, August 21, 2013

Utd Envirotech

Utd Envirotech - United Envirotech (UEL) has been awarded a 25-year build-operate-transfer contract from the local government of Yantai City for a municipal wastewater treatment (WWT) plant in Shandong Province, China. Phase 1 of the underground project, costing Rmb100m, will have a capacity of 30,000m3/day and is expected to be completed by 3Q14. Upon full completion of Phase 2, the WWT plant will have a total capacity of 80,000m3/day. Under the terms of the BOT contract, Phase 1 will have a minimum off-take of 70% for the first year of operations with a step-up to 100% from year 5 onwards. The plant will use UEL’s membrane bioreactor (MBR) technology, similar to the 100,000m3/day underground MBR plant in Guangzhou city, which the group built in 2010. The project will be funded by the proceeds from its US$113.8m convertible bond issue, $49.3m share placement to KKR and bank financing. The contract adds to its 100,000 m3/day drinking water plant secured in Yantai last year and follows the group’s proposed acquisition of membrane supplier, Memstar Technology, which should enhance its expertise and cost efficiency.

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