Zhangzhu Town Waste Water Treatment Plant

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In September 2006, Asia Environment Holdings signed a 25-year contract to maintain and operate a waste water treatment plant in Zhangzhu Town, Jiangsu Province, China. The plant was capable of processing 10,000 cubic meters a day of waste water. Asia Environment Holdings Limited was a Singapore-listed Chinese firm that operates in China under the Penyao brand. In cooperation with the Zhangzhu Town Government, Asia Environment Holdings established a project company to manage the project. The project achieved financial closure when Asia Environment Holdings paid RMB 16million (US$ 2million) as consideration for the project in three tranches from internal resources and bank borrowings; it expected to earn RMB 114.6million (US$ 14.4million) over the 25-year period of the contract.