After a long Rip Van Winkle session of about close to 5 years, Metronic Global Berhad (MGB)finally sprung back to life.On 15th October, it announced that its wholly owned special purpose company, namely Anhui Lai’An Metronic Water Supply Co. Ltd, has commenced the earthworks of the construction for the water treatment plant in Lai’An County, Anhui Province in the PRC and is expected to be completed by year 2010.
This BOT Water Concession is for a period of 33 years (inclusive of 3 years construction period) with the total estimated costs and funding for construction of the water treatment plant of approximately RMB61 million (equivalent to RM30 million at an exchange rate of RMB1 equals to RM0.49).
The BOT Water Concession is expected to contribute positively to the future earnings of MGB upon the completion of construction in year 2010.
So, apart from just telemetry and computerised health systems, MGB is now right into the business of utilities which will certainly use their in-house telemetry technology for control purposes.
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