United Envirotech

United Envirotech (UEL): Group secured a Rmb105m (S$21m) Transfer-Expand-Operate-Transfer project from the local government of Qixia City in Yantai, Shandong Province, China. UEL will acquire the existing 20,000m3/day treatment plant and double its capacity with the group's membrane bioreactor technology. The project will be funded with the proceeds from its convertible bond issue and share placement to KKR, as well as bank financing, and construction will commence immediately and be expected for completion by 3Q14.