Dual-listed SIIC Environment has, through its indirect subsidiaries, SIIC Environment Holdings (Weifang) Co., Ltd. and S.I. United Water Holdings Limited, signed an agreement of upgrading and expansion.
The agreement, which was signed with the People’s Government of Shanting District, Zaozhuang City, is for the Zaozhuang City Shanting District WWTP project.
The project has a total designed capacity of 50,000 tonnes per day. It comprises the Zaozhuang City Shanting District WWTP Center project, which has a designed capacity of 20,000 tonnes per day, and the Zaozhuang City Shanting District WWTP reconstruction and expansion project, which has a designed capacity of 30,000 tonnes per day.
Under the agreement, the discharge standard from the Zaozhuang City Shanting District WWTP Center project will be upgraded from Class I Standard A to Quasi Grade IV. The concession period of the project will also be extended. The discharge standard for the Zaozhuang City Shanting District WWTP reconstruction and expansion project has been classified as Quasi Grade IV. The project has a concession period of 30 years.
According to the group, the projects are expected to contribute positively to its future performance.
Shares in SIIC closed at 19.6 cents on Oct 5.
