SOUND GLOBAL LTD. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
SOUND GLOBAL LTD.桑德國際有限公司*
(Incorporated in the Republic of Singapore with limited liability)
(Company Registration Number 200515422C) (Hong Kong Stock Code: 00967) APPROVAL OF PHASE II EXPANSION FOR THE SEWAGE TREATMENT PLANT IN HONGZE COUNTY, JIANGSU PROVINCE
Sound Global Ltd. ("Sound Global" or the "Company") hereby announces that the expansion project of the sewage treatment plant in Qingjian, Hongze County, Jiangsu Province ("Hongze Project Phase II") has recently received approval to commence construction for the second phase of expansions. The expansion capacity will be 20,000 tonnes per day with an estimated additional total investment of RMB 100 million.
The Hongze Project is situated in Hongze county, Jiangsu province, which will be built and operated according to the BOT model. Total capacity is 60,000 tonnes per day, and the concessional operation period of the project is 28 years. The project is to be built in three phases. Currently, phase I provides capacity of 20,000 tonnes per day, which mainly treats sewage from chemical salt enterprises and households within a 18km2 area. The project was constructed and commenced operations by the end of 2011. With the development of the Hongze County Economic and Technological Development Zone and the increase in industrial sewage from chemical salt industrial plants within Hongze county, sewage inflow of the sewage treatment plant has already far exceeded the operational capacity of phase I, making the commencement of construction of Hongze Project Phase II a pressing issue. After phase II of the project is successfully constructed and commence operations, the concessional operation period of the project will be extended based on the concessional operation period of phase I.
As a systematic integrated service provider of industrial sewage treatment, Sound Global is currently constructing or operating systematic treatment services for water environments in the lumber industrial park in Siyang, Jiangsu Province, the petrochemical industrial park in Quanguang, Fujian Province, the emerging industries industrial park in Jikou, Sanming City, the mechanical industries industrial park in Xintai and the food processing plant in Huazhou, Guangdong. The commencement of Hongze Project phase II will become another prime example of the Company's industrial park sewage treatment projects in China. The completion of the aforementioned project will greatly reduce COD emissions of the serviced area and will promote the friendly and harmonious development of the sewage treatment environment within the industrial park. The project will also help promote the overall development of the Hongze County Economic and Technological Development Zone and the chemical salt industrial area.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect (other than through their shareholdings in the Company), in the above-mentioned transaction.
This transaction is not expected to have material impact on the net earnings per share and the net tangible assets per share of the Company for the financial year ended 31 December 2015.
Hong Kong, 14 January 2015
By Order of the Board Wen Yibo Chairman
As of the date of this announcement, the executive Directors are Wen Yibo, Zhang Jingzhi, Wang Kai, Luo Liyang and Jiang Anping; and the independent non-executive Directors are Fu Tao, Seow Han Chiang Winston and Wong See Meng.
* For identification purposes only
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