Moya unit's water supply system in Indonesia commences operations
MOYA Holdings Asia on Monday said its subsidiary, Air Semarang Barat, on May 22 successfully achieved the commercial operation date (COD) of its build, operate and transfer project for a water treatment supply system in West Semarang, Indonesia.
The project has a 25-year concession period after the COD, with a water treatment capacity of up to 1,000 litres per second.
Its COD is in line with initial targets and comes despite the current Covid-19 pandemic situation, said the water treatment company in a regulatory filing on Monday.
According to Moya, the project's on-time completion brings positive impacts to the community of Semarang City by providing additional water supply capacity, which boosts the reliability of clean water supply to customers, therefore increasing the service coverage ratio of clean water in the city.
"The additional water supply capacity from the project will also increase the quality, quantity and continuity of water supply services to the customers in Semarang City," it added.
Going forward, Moya expects the project to further expand and strengthen its business in the water treatment industry in Indonesia.
A NEWSLETTER FOR YOU
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
Moya shares were trading 0.1 Singapore cent or 1.5 per cent higher at 6.8 cents as at 1.43pm on Monday, after the announcement was made.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
OpenAI inks licensing deal with People magazine publisher
Apple unveils new AI-focused chip in upgraded iPad Pro models
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Disney's surprise streaming entertainment profit offset by weaker TV business
Geely, Foretellix partner to jump-start self driving car development
US: Wall Street opens slightly higher on rate cut optimism