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The Company is pleased to announce that its wholly-owned subsidiary, Salcon Shandong (HK) Limited ("SSHK"), Hong Kong has on 11 July 2008 entered into a Memorandum of Understanding ("MoU") with the People's Government of Changle County, Shandong Province, People's Republic of China in relation to the proposed construction of a new 100 million litres per day ("MLD") wastewater treatment plant ("WWTP") adjacent to the present 40 MLD WWTP.
Under the MoU, SSHK will carry out feasibility studies and submit an investment proposal for the proposed 100 MLD WWTP which will be built in 2 phases, that is 40 MLD in the Phase I and 60 MLD in the Phase II.
None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the MoU.
This announcement is dated 14 July 2008. |
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