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CITIC Envirotech awarded $27 mil contract for Fujian project

Michelle Zhu Published on Mon, Dec 18, 2017 / 5:48 PM GMT+8

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SINGAPORE (Dec 18): CITIC Envirotech has been awarded a RMB130 million ($27 million) engineering, procurement and construction (EPC) project in Xiangban City, Fujian Province, China, by Fujian Haixia Environmental Protection Group.

The contract involves the upgrading and expansion of Fujian Haixia’s existing 80,000 cubic metres per day conventional wastewater treatment plant (WWTP) into a 90,000 cubic metres per day plant, using the group’s proprietary Membrane Bioreactor (MBR) technology.

In a Monday announcement, CITIC Envirotech says the project will commence immediately and is expected to complete by end-June, 2018, and will have no material effect on the group’s net tangible assets (NTA) or earnings per share (EPS) for the financial year ending Dec 2017.