Sep 13, 2006

Herocan Secures China Wastewater Deal

Beijing Herocan Environmental Engineering Tech Co. Ltd. has secured wastewater treatment projects in China worth RMB 100 million ($12,582,573.14).

The contracts are made of a RMB 40 million ($5,033,029.25) contract to construct an integrated treatment plant, as well as another agreement for a RMB 60 million ($7,549,543.88) Build, Operate and Transfer wastewater treatment project.

The RMB 40 million project will require Herocan to work on a 50,000 tons per day treatment plant that will serve an entire city. The contract was awarded by the Shenzhou County Construction Department of Shenzhou city in Hebei province.

According to China Knowledge, the project should be completed in 18 months.

Additionally, Herocan signed a BOT agreement for a wastewater treatment project with the Zhishanxian County Construction Department of Baoji City in Shaanxi province for the construction and operation of the Caijiabo Wastewater Treatment Plant.

The plant is expected to be completed by December of 2007. After completion, Herocan will have a license to operate the plant for the next 20 years.

The project in Shaanxi Province will partially be funded by the local authorities through government loans, as well as by the CNA Group.

The CNA Group acquired a 51 percent stake in Herocan, which expanded the business into the water and waste treatment industry in China.