HYFLUX SECURES S$30 MILLION WATER TREATMENT AND RECYCLING
CONTRACTS IN CHINA
X
Hyflux Ltd (the “Company”) is pleased to announce that Hyflux Utility Ltd, an affiliate of the Company has been granted a 25-year concession by the local government of Langfang City, for wastewater treatment and water recycling in Langfang City, Hebei Province, China. Hyflux Utility Ltd is a wholly owned subsidiary of Sinospring Utility Ltd, a 50% joint venture company of the Company.
Under the concession, Hyflux Utility Ltd will be granted exclusive rights to operate a 80 MLD waste water treatment plant and a water recycling plant for a period of 25 years. The Company’s wholly owned subsidiary will also undertake the design, engineering and construction of the water recycling plant in relation to the waste water treatment plant, which has an estimated capacity of 40 MLD. The water recycling plant is estimated to be completed in 2007. The total project investment is estimated at S$30 million.
Commenting on the above, Group CEO and President of the Company, Ms Olivia Lum says: “This award adds to our strong pipeline of projects in China and demonstrates our commitment to grow in the municipal water utilities business in China. We believe that with the Chinese Central Government's emphasis on waste water treatment, water management, and control of environmental pollution, there will be even bigger opportunities for Hyflux in the years ahead.”
The project is not expected to have a material impact on the Company’s net assets or earnings per share for the current financial year.
By Order of the Board
Grace Goh Bee Kheng
Company Secretary
Submitted on 12 October 2006 to SGX-ST
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