Corporate: Fluence will build Brazil’s largest desalination plant
Desalination plant builder Fluence Corporation (ASX: FLC) has won a competitive tender to build a desalination plant in Brazil which will be the country’s largest.
The US$10m plant will serve a large-scale steel producer and handle 12,000 cubic metres of water per day. Construction will begin this quarter and operations are expected to begin in 18 months time.
While the client was not identified, Fluence CEO Henry Charrabe told shareholders they were a repeat customer and he was pleased they trusted Fluence again.
“This project is Fluence’s largest project to date in Brazil and provides another valuable reference site,” he said. “Brazil is one of our key focus markets, as Fluence enhances its footprint as the leader in global decentralized water and wastewater treatment markets with local expertise.”
“We are pleased that this important repeat international customer is once again placing their faith in Fluence’s team of engineers and we look forward to continuing to jointly grow the relationship across their global operations.”
Fluence shares are up 7 per cent at the start of trade. Having begun 2019 at only 31 cents, they are up over 50 per cent this year.
Chinese health store operator Eagle Health (ASX: EHH) has reached its target of opening 100 stores in mainland China. At the start of this year it had only opened half that number of stores. Its footprint now expands into 16 provinces and sells Eagle Health’s products, among others. Each store is located in an area to serve 50-80,000 people within a 5km range.
And Eagle Health is not finished opening stores just yet – it’s told shareholders it will keep opening stores, although in “targeted regions”.
Gold explorer Gascoyne Resources (ASX: GCY) has welcomed its mining contractors NRW as substantial holders with an 8.58 per cent stake. NRW paid $4.3 million for 86.2 million shares.
The purchase came as part of an underwriting agreement in Gascoyne’s $24.4 million capital raising. The deal was stuck in early April but the purchase only occurred last Wednesday and the substantial holder notice was filed late Friday afternoon.