Ganyu County Sewerage Treatment Facility

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In March 2006, Goldis Berhad acquired a 20-year build, operate, transfer (BOT) contract from three Chinese firms to treat municipial sewerage water for Lian Yun Gang City, located in Ganyu County, Jiangsu Province, China. The agreement provided for the construction of a treatment plant capable of treating 20,000 cubic meters a day of wastewater. The contract was originally won by three Chinese firms - Jiangsu New Century Co. Ltd., Nanjing Ze Shi Science & Technology Co. Ltd., and Suzhou Ke Rui Investment Consulting Co. Ltd. - and was bought out by Goldis Berhad. A project company, Ganyu Xin Cheng Sewage Treatment Co, Ltd. ("GXC"), was established to implement the contract. GXC is co-owned by Goldis Berhad through its subsidiary JiangSu Gold Water Company, and Zou Ben Qiang, at 77.5% and 22.5%, respectively. The total investment was estimated at RMB39 million (US$ 48.5million) and was financed internally and through shareholder borrowings at Goldis Berhad. The project was operational as of February 2007.