Deqing Potable Water Treatment Plant

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In May 2006, Darco Water signed a 25-year build, operate, transfer (BOT) contract with the Deqing County Government in China, to build a potable water supply plant for Deqing County, Zhejiang Province, China. The plant is expected to supply 100,000 cubic meters of water daily to Deqing County's 16 townships and 450,000 residents. Darco Water was a Singapore-registerd and -listed company that operates in China through its wholly-owned subsidiary Shanghai Darco Envirotech Company, Ltd. The company was the sole owner and operator of the plant. The current project was estimated to cost US$ 20million. The project achieved financial closure when Darco issued syndicated loans to cover the project in November 2006. Darco previously constructed a 60,000 BOT cubic meter daily water supply plant in Deqing County, which it was awarded in 2002. Construction was put on a fast-track basis in November 2006, and was expected to conclude in 2008. As of February 2007, the project was under construction.