Sembcorp's profit from utilities arm in China jumped five-fold to $30m

Analysts are projecting $50m net profit.

According to OCBC, Sembcorp Industries (SCI) announced last week that it will expand its water business with two new wastewater treatment projects in industrial parks in Panjin City.

"We see the initial phases of these projects as incremental expansions in China, adding about 10% to the group’s total industrial water capacity in the country where SCI has about 298,000m3/day of industrial water capacity, and 1,030,000m3/day of municipal water capacity," OCBC said.

Here's more from OCBC:

The group’s utilities business in China has seen good growth over the years, with net profit increasing from S$6m in 2009 to S$30m in 2012.

We are expecting net profit of about S$50m this year; 1H13 net profit has already reached S$32.7m.

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