Hong Kong - Sound Global Ltd. ("Sound Global", or the "Company";) is pleased to announce that the company has entered into a contract to acquire Bazhong Best Environmental Investment Limited, with which Sound Global have obtained two projects of the acquiree in Enyang District, Bazhong City, namely the Phase I Urban Sewage Treatment Plant Project and the Phase I Urban Water Supply Project.
These projects are located in Enyang District, Bazhong City of Sichuan Province. These projects are invested and constructed by Sound Global. For the Phase I Urban Sewage Treatment Plant, daily sewage treatment capability is designed to be 15,000 cubic meters, and the long-term daily treatment capacity is designed to be 30,000 cubic meters. The aggregate investment for this Phase I project is RMB54 million and its concession period is 30 years. For the Phase I Urban Water Supply Project, daily water supply amount is designed to be 30,000 cubic meters, and the long-term daily water supply is designed to be 80,000 cubic meters. The aggregate investment for this Phase I project including pipe network is RMB89 million and the permanent operational right is granted. These two projects protect the quality of drinking water and the eco-system of the Three-Gorges-Reservoir area as well as its safety of drinking water and also plays an important role in building Bazhong City into a National Pilot Area for Urban-Rural Comprehensive Reform..
Mr. Wen Yibo, Chairman of Sound Global, comments that the success in securing these projects marks another breakthrough for the bundled investments of Sound Global in Sichuan Province following its successful bid for the project in Tongchuan District, Dazhou City. These projects set outstanding examples on complying with the policies set out in the "Circular of the State Council on Policies and Measures Concerning the Large-scale Development of China's Western Regions", such as strengthening centralized management on water resources of the watershed and strictly implementing systematic water consumption and allocation plan to utilize and develop water resources properly.
SOURCE: Sound Global Ltd.