CITIC Envirotech secures up to RMB20 bil credit facilities from China Merchants Bank

SINGAPORE (April 10): CITIC Envirotech, the membrane technology-based integrated environmental solutions provider, has secured credit facilities of up to RMB20 billion ($4.1 billion) for five years to finance projects in the water and environmental sector.

The credit facilities provided by China Merchants Bank will support CITIC Envirotech in financing new projects in water treatment, river restoration, sludge and hazardous waste treatment and Public-Private-Partnership (PPP) projects in the environmental industry.

CITIC Envirotech is on track to tap tremendous opportunities in the water and environmental industry. It recently reported a two-fold increase in its full-year net profit after tax of $102.0 million on the back of a significant increase of 62.1% in its revenue to $544.6 million.

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