Thursday 17 Oct 2024
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SINGAPORE (Sept 14): Darco Water Technologies announced it has secured contracts worth S$19.8 million in China, Malaysia and Singapore.

This brings the total value of new contracts won to S$52.8 million.

In China, Wuhan Kaidi Water Services, a subsidiary of the group, has secured a contract worth S$9.9 million for reverse osmosis seawater desalination technology to provide fresh water for a heating generator power plant in Bajiao.

The subsidiary has also secured several contracts for sales of trading parts and technical services for S$3.1 million.

In Malaysia, subsidiary Darco Industrial Water and Darco Water Systems won contracts for seven engineered water systems worth S$2.4 million.

The water systems will be used for pure water and wastewater treatment in engineering, procurement and construction projects, which also involves upgrading existing systems for customers’ manufacturing needs.

In Singapore, PV Vacuum Engineering, a Singapore subsidiary, secured a pneumatic waste conveyance system project worth S$4.4 million for transfer of solid waste for the Housing Development Board in Sengkang.

These projects are expected to have a material impact on the revenue for the company for the year ending December 2016.

“We are pleased that we are gaining strong growing momentum in the environmental industry as well as into the China market,” says Thye Kim Meng, CEO, Darco Water Technologies.

“Moving ahead, we remain committed to enhance our research and development of environmental projection technology to further enhance our market competitiveness,” he adds.

Shares of Darco Water Technologies closed 6.2% higher at 34 Singaporean cents.

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