Sound Global Holdings signs Seewage BOT contract in China

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Sound Global Holdings signs Seewage BOT contract in China Wastewater plant

Sound Global Holdings has announced that it has signed a contract to undertake a sewage treatment BOT project in Tacheng City, Xinjiang Province of China.

The Build-Operate-Transfer (BOT) project is located in Tacheng City of Xinjiang Uygur Autonomous Region, one of the gateways to Western China. The project will be invested by Sound Global, and phase one of the plant will have a designed sewage treatment capacity of 40,000 m3 per day. The BOT mode will be adopted in the investment, construction, operation and delivery of the plant.

Sound Global will invest an aggregate of RMB80 million (US$13.1 million) in phase one of the project, and the concession period granted to Sound Global is 30 years. The construction of ancillary drainage network will adopt a "Build - Transfer" mode, with total investment of RMB60 million (US$9.8 million).

Additionally, the company also signed the contract for the construction of No. 3 sewage treatment plant in Yining City, in Xinjiang Province as well. The project, with designed mid-term sewage treatment capacity of 50,000 m3/day and near-term sewage treatment capacity of 25,000 m3/day respectively, is located in Huoerguosi Economic Development Zone, Yining city, Xinjiang Uygur Autonomous Region.

Mr. Wen Yibo, Chairman of Sound Global said:

"The existing sewage plants in Yining city can no longer handle the function of sewage treatment effectively as the pace of the social and economic development in Yining city and the process of new industrialization have become increasingly repaid, and the increasing number of major projects to be carried out in Yining Economic Corporation Zone. Direct discharge of sewage is strictly prohibited along the Ili River which is regarded as an international river. There will be material adverse impact on industrial development in the Zone if the problem of sewage treatment cannot be solved properly. Meanwhile, the sustainable development of Xinjiang is conductive to the strategic presence of Sound Global throughout China."

Mr. Wen also claimed:

"Tacheng City locates at the northwest of Xinjiang Uygur Autonomous Region, sitting in Tacheng Basin riding on the northwest rim of Junggar Basin, and only 12 kilometers east of Baketu Port, a class 1 port at national level. Tacheng City is one of the open cities in close proximity to the border. Sound Global believes that, by entering into the contract to undertake a sewage treatment BOT project in Tacheng City, it will help establish an effective channel to distribute its technology and equipment. Meanwhile, leveraging on its competitive advantages in technology, funding, project management and complete industrial chain, this project will accelerate the Company's steps in expanding its foothold in this area and make contributions to local environmental protection and development. The project will play an important role in protecting the water quality, ecosystem and drinking water sources in Tacheng area, Xinjiang, and also has great significance in energy conservation, emissions reduction and promoting sustainable development."

Sound Global is one of China's leading turnkey water & wastewater treatment solutions providers. The firm has 10 other wastewater BOT contracts in China with an average contract length of 25 years.

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