10 articles about "Tri-Tech Holding"
A record-breaking month for a number of global stock indices belied execution problems in end markets for some former hot stock picks.
Co-president Phil Fan speaks to GWI’s Asia editor Olivia Jensen about the Nasdaq-listed company’s rapid expansion into the global market, and its future acquisition plans.
US-listed Tri-Tech has secured a ‘buildown- operate-subsidise-transfer’ project in western China. The ‘BOOST’ contract involves the construction and operation of water and wastewater facilities in a small town in Buerjin, Xinjiang for 30 years.
Marafiq, the utility for the industrial cities of Jeddah and Yanbu in Saudi Arabia, is expected to close a SAR4.5 billion ($1.2 billion) loan deal in the first quarter of 2012, according to sources in the Saudi banking community. Response to the call for commercial lenders has been high, with one bank – the National Commercial Bank – offering to fund the entire sum itself. Marafiq is looking to expand its water, wastewater and power infrastructure in the coming years.
* It has been a busy month for Manila Water. The company has bought Veolia out of the 20,000m3/d Clark Water concession in the Philippines, and also submitted an investment proposal to SAWACO, the water utility serving Ho Chi Minh City in Vietnam – along with Mitsubishi and locally listed manufacturing and construction company REE Corporation – for a water loss reduction project in three SAWACO service zones.
Beijing Enterprises Water Group is pressing ahead with its first international project – the Pantai 2 sewage treatment plant in Malaysia’s capital region.
* Galaxy NewSpring, the joint venture between Mitsui and Hyflux, announced that it had secured approximately 93.88% of Hyf lux Water Trust by the time its exit offer closed on 12 November. Galaxy plans to acquire the remaining 6.12% by the end of December.
* Shares in Nasdaq-listed Chinese water systems integrator Tri-Tech Holding received a boost in early October after the company announced that it had won an EPC contract for a 96,000m3/d drinking water plant in Inner Mongolia.
Following its March listing, Chongqing Water Group is now the largest quoted water company in China. It was a triumphant return to form for home-grown water IPOs.
The resurgence in Asian listed water stocks last year was supported by renewed access to capital. The new environment could encourage more companies to recycle capital by spinning out business trusts.