Stock News: Hyflux won 2 water treament contracts in China!

Hyflux Ltd said its unit Hyflux Utility has won two more water treatment projects in China. Hyflux Utility is a wholly-owned subsidiary of SinoSpring Utility Ltd, which is 50 pct owned by Hyflux. "These new contracts attest to the confidence of the respective local governments in Hyflux's capabilities and track record as a leader in water treatment," Hyflux group CEO and president Olivia Lum said. For the first project, Hyflux Utility has been granted a 30-year concession by the local government of Dafeng City in Jiangsu province to supply industrial water to the south development zone of Dafeng City. Under the concession agreement, Hyflux will design, construct, supply, finance, operate and maintain a 20,000 cubic meter per day water clarification plant. Scheduled for commercial operation by end-2007, the project is estimated to cost 55 mln yuan. On the second project, Hyflux Utility has been granted a 30-year concession to treat wastewater and to recycle the treated water for industrial use for Liaoyang City in Liaoning province. Under the concession agreement, Hyflux Utility will design, construct, supply, finance, operate and maintain a plant capable of treating 30,000 cubic meters per day of wastewater and of producing 25,000 cubic meters per day of recycled water for industrial use. Scheduled for completion by the first half of 2008, the estimated total project cost is 50 mln yuan.