Post Reply
1-4 of 4
It rose after announcing 37 new contracts worth RMB550 million in 13 provinces in China.
The new contracts bring Asia Water's order book to RMB820 million and will have a positive impact on its revenue till 2008, the firm said in a statement.
It said it has decided to invest in a build-own-operate water contract in Lv Liang City in China's Shanxi province worth 256 mln yuan to supply water of up to 20m tons per year to the city.
For this project, Asia Water and its wholly owned unit Wuhan Kaidi Water Services Co Ltd will incorporate a project company, Lv Liang Xinya Water Services Co Ltd, with a registered capital of RMB98m.
Asia Water will own a 59.18% stake in the company while Wuhan Kaidi will hold the remaining 40.82%.
It plans to reduce its reliance on purifying water for power plants and is shifting its focus to the more profitable business of waste-water treatment.
This counter is not monitored but i think it is on its way to $1.00