United Envirotech invests S$18.9m in Maxrise Envirogroup

As a result, UEL will be holding the equity interests of four water treatment plants in China.

OCBC says the aggregate treatment capacity of the four water treatment plants will reach 170k m3/day.

Here's more from OCBC:

United Envirotech Ltd has invested RMB100m or S$18.9m to take a 40% stake in Maxrise Envirogroup Ltd - the move will result in UEL holding equity interests of four water treatment plants in Bazhou, Mengzhou and Jiangle cities, China. Upon completion of the second phase of expansion for the Mengzhou Shengfang municipal wastewater treatment plant at 25k m3/day, the aggregate treatment capacity of the four water treatment plants will reach 170k m3/day. Recall that UEL had earlier secured a RMB220m or S$42m BOT project in Dafeng Jiangsu Province, China to build a 50k m3/ day wastewater treatment plant; UEL said it intended to fund the project with proceeds from its last share placement and bank financing.

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