Jiangdu Water Treatment Plant

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In April of 2005, New Efficient Ltd. announced that it had secured a 30-year contract to build and operate a 100,000 cubic meters per day capacity water treatment plant in Jiangdu city, Jiangsu province. A portion of the treated water supply was to be wholesale supply to existing small water supply companies and the other portion was to go directly to the city’s new development for the residential, manufacturing, and commercial buildings including power plants. New Efficient Ltd. was a joint venture owned by World Eagle International of Hong Kong (70%) and Bio-Treat, a private Chinese company based out of Dongguan city in Guangdong Province (30%). To implement the contract, Jiangdu Yunjian Water Network Company was created as the wholly-owned project company of New Efficient. The total cost of the project was RMB 98 million (US$ 11.97 million). The project was expected to commence in the second half of 2005 and be completed within 24 months from the time of construction.