ECT 33.3% 0.1¢ environmental clean technologies limited.

very undervalued.........new contracts lift esi or

  1. 5,609 Posts.
    Summary Announcement. ESI. New Contracts Lift ESI Order Book to $74 Million
    Date of Report: 03-Oct-2003




    Environmental Solutions International Limited (ESI) today announced a further substantial increase in its order book to over $74 million having finalised two additional contracts valued at $13 million.


    The contracts have been signed with Yarra Valley Water and Melbourne Water and reflect ESI's ability to win quality work with government bodies across Australia. ESI has also reached preferred tender status on two further contracts valued at $16 million in South Australia and NSW.


    Demand for ESI's services in the drinking water and waste water treatment markets has grown significantly in the past year and is expected to remain strong.


    "These additional contracts should underpin a much improved performance in the 03/04 and 04/05 financial years. We have the strongest forward order position in the company's history," ESI Managing Director, Mr Denis Glennon said.


    "Our expertise and access to technology have us well positioned in the expanding drinking water and wastewater reuse markets and we continue to expect strong demand for our services from all levels of government and the private sector," Mr Glennon said.


    ESI has been awarded a variety of work across Australia in 2003.


    In July, ESI announced a 50/50 joint venture with Tenix Alliance to design and construct new sewerage treatment plants valued at $58 million for the Bega Valley Shire Council in NSW. The 50/50 joint venture was also appointed to operate and maintain all existing and new treatment plants for a period of 15 years.


    In April, ESI was contracted by Lower Murray Water to design and build a new potable water plant incorporating advanced treatment facilities to control taste, odour and algal micro organisms. The contract also includes the construction of new pumping stations, a new rising main pipeline and water storage tanks in Mildura. The value of the Mildura contract is of the order of $11 million.


 
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