United Envirotech closes acquisition of wastewater concession in China
United Envirotech Ltd. (UEL) has completed a deal to acquire 100% of shares of the concessionaire who has a contract to administer, operate, construct and maintain a waste water treatment plant to treat 30,000 m³ per day of wastewater in Diaobingshan City, Liaoning Province (China).
United Envirotech acquired 50 % of the shares from Moya Asia Limited for US$1.885 million and the other 50 % of the shares from Shenyang Shenfei Aircraft Industry Company Limited (SAIC) for US$1.782.
The BOT contract is supervised by the Diaobingshan Town Construction Bureau.
Under the deal, United Envirotech has signed a new concession agreement with the administration and additionally it will also enter into a new BOT Agreement with Diaobingshan municipal government for an expansion project to add an additional 20,000 m3/day capacity to the existing plant. The total investment for the acquisition and BOT project is approximately SGD 16 million.
On August 29, United Envirotech announced it has completed a deal that started in July 2012 with the acquisition of the first package of shares from Moya Asia Limited.
Sources: United Envirotech & Moya Asia
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