IMH imt holdings limited

developments in china

  1. 855 Posts.
    Developments in China

    Announced by: IMT HOLDINGS LIMITED (IMH)
    Announced on: 30/01/2003 19:29:05
    Part: A
    Words: 474
    Status: Not market sensitive (N)



    HOMEX - Sydney

    The Board of IMT is pleased to announce the latest developments in
    the establishment of the Phoslock business in China.

    * Treatment of three eutrophied ponds adjacent to Lake Dianchi in
    Yunnan Province with a total treatment area of 10,000sqm will
    commence on 15 February, 2003. This will require approximately 15,000
    litres of Phoslock Liquid.

    * Subject to this treatment being successful IMT has been advised
    that treatment of Lake Luzai, a eutrophied lake within 20km of Lake
    Dianchi with a total treatment area of 30sqkm, will commence in
    April, 2003. This will require approximately 37.5 million litres of
    Phoslock Liquid.

    * Treatment of Lake Dianchi with a total treatment area of 300sqkm
    will commence upon successful completion of the Lake Luzai project.
    This will require 375 million litres of Phoslock Liquid.

    * Two sewage treatment plants ("STP's") in Kunming City in Yunnan
    have commenced the engineering design work to improve their treatment
    process. Adopted design features include the use of Phoslock to
    reduce treated effluent phosphorus levels to low levels. The use of
    Phoslock has been selected as an option to replace the use of other
    chemical dosing procedures subject to the design engineering plans
    being adopted. Subject to Chinese government approvals, operations
    using Phoslock may commence in late 2003. China has many thousands of
    STP's which could be adapted to use Phoslock in their treatment
    process. The potential exists to establish a significant and
    recurring income stream from Phoslock application to STP's in China.


    (a) LAKES

    The Phoslock treatment will generate revenue of 0.8 RMB per sqm for
    large water bodies such as Lakes Luzai and Dianchi. Smaller water
    bodies will be calculated case by case. Revenue for the larger lakes
    is estimated as follows:

    * Lake Luzai RMB 24,000,000 (A$5.2 million)

    * Lake Dianchi RMB 240,000,000 (A$ 52.1 million)

    (b) STP's

    Revenue from the supply of Phoslock to the two Kunming STP's has been
    estimated at RMB 14,000,000 (AUD $3.0m) per year.


    Engineering work on the various application plant and equipment has
    been commissioned. This includes the design of a vessel to be used to
    apply Phoslock to large lakes.

    The treatment of the ponds and Lake Luzai will provide IMT with
    valuable experience and knowledge of the practical aspects of the
    manufacture and application of Phoslock in China. This experience
    will be invaluable in undertaking the treatment of the many
    eutrophied water bodies throughout China including Lake Dianchi.

    As a result of the development of the projects, it has become
    necessary to ensure that arrangements are in place for the
    manufacture and supply of Phoslock. To achieve this, IMT will enter
    into a joint venture agreement which is described in an announcement
    made by the Company today.

    For further details, please contact Brett Crowley, CEO, on
    02 9698 0622.
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