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RADIUM (2547 TW) Subsidiary Rih Ding Water signed a NT$ 9.82 billion syndicated loan with 12 bankers
Listed company Radium (2547 TW) announced its subsidiary Rih Ding Water Enterprise Co., Ltd. signed a NT$ 9.82 billion syndicated loan with 12 bankers, complying with the vision of developing circular economy raised by government policies of 5+2 Innovative Industries Program in Taiwan.
Rih Ding Water is managing Taoyuan City Government’s "Building, Operating, and Transferring (BOT) Project for the Construction of Sewerage System in Taoyuan District, Taoyuan County," the largest public sewerage system BOT in Taiwan. Along with advanced technology and well management, Rih Ding Water had reached annual revenue of NT$ 2.2 billion in 2020 and made the project one of the best sewerage system BOTs in Taiwan. As performance and efforts being recognized, Rih Ding Water was supported by bankers and the syndicated loan was oversubscribed by 41%, reaching total amount of NT$ 13.9 billion. The final agreement of syndicated loan was signed at NT$ 9.82 billion, with Mega International Commercial Bank as the lead mandated arranger, Chang Hwa Commercial Bank and Taiwan Cooperative Bank as joint arrangers, and syndicating with Shanghai Commercial Bank, Taichung Bank, Taishin Bank, Agricultural Bank of Taiwan, EnTai Bank, Bank of PanHsin, DBS Bank, Hua Nan Bank and Taiwan Business Bank.
To support Taiwan government policy of developing renewable energy and circular economy, Rih Ding Water Enterprise Co., Ltd., the subsidiary 100% owned by Radium, had managed the 35-year BOT project of Taoyuan sewerage system since 2012 to cover six urban planning areas of approximately 7,610 hectares in Taoyuan. Radium invested further around NT$10 billion for Rih Ding Water to complete 2nd phase of expansion plan by December 2020, and added 115 kilometers of pipeline into the underground network. Along with that Rih Ding Water had reached 100,000 households by end of 2020 with capacity of treating 100,000 metric tons daily. Rih Ding Water is planning to expand further system into great Taoyuan Yanping area, Bade, Neili and Guishan areas along with the 3rd phase of construction. The sewerage system is planning to connect 191,000 households by 2026 with targets of reaching 251,000 households by end of 2047.
With patented BioNET and membrane bioreactor (MBR) filtration technology, Rih Ding Water can generate up to 30,000 tons of reusable water a day currently to help improve quality of Nankan River. To well manage the by-product biogas from the wastewater and sludge treatment system, Rih Ding Water is also developing technology to recycle biogas for renewable electricity. It’s estimated to generate electricity more than 250,000 kWh annually when the biogas recycling technology matured enough to further support sewerage system operation.
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