SINGAPORE (Apr 3): Tritech Environment, a wholly owned subsidiary of Tritech Group, has been awarded a RMB727 million ($146.6 million) public-private partnership project to build a sewage treatment plant in Laifeng county, Hubei Province, China.

The estimated investment value of the project includes a construction investment of RMB631 million as well as RMB96 million in sewer infrastructure assets.

Under the agreement signed on Monday, Tritech and Laifeng county will jointly construct, upgrade and expand the sewage treatment plant, which will have a capacity of 35,100 sq m a day, and its associated sewage pipe networks

This will be undertaken by a 51:49 owned project company to be established between Tritech Environment and Laifeng government-owned entity, Laifeng Country Urban Development and Investment Co. Ltd.

With a paid-up capital of about RMB189 million, the project company will be entitled to the profits of the project in full.

The project will have a construction-operation-transfer period of 30 years inclusive of a construction period of three years.

Shares in Tritech closed 26.2% higher at 5.3 cents on Tuesday.