United Envirotech Ltd's Subsidiary Announces Incorporation Of Subsidiary

United Envirotech Ltd announced that the Company’s wholly-owned subsidiary, United Envirotech Water Resource Pte Ltd has incorporated a subsidiary in Jiangsu Province, People’s Republic of China. The 100% owned subsidiary known as United Envirotech Water (Siyang) Co. Ltd (UE Siyang) has a total paid up capital of USD10 million. The main activities of UE Siyang are to undertake the Transfer-operate-transfer (TOT) and Built-operate-transfer (BOT) projects in textile industrial wastewater treatment, recycling and water supply with total treatment capacities of 90,000 m3/day for Phase I and 130,000 m3/day for Phase 2 respectively, in Jiangsu Province. The investment is funded by the proceeds received from the previous issuance of convertible bonds and placement of ordinary shares to KKR China Water Investment Holdings Limited (KKR).