E&Corporation "Hanseong Cleantec Enters Desalination Market... Expanding 'Blue Gold' Water Treatment Industry"

[Asia Economy Reporter Yoo Hyun-seok] E&C Corporation, aiming to become a comprehensive environmental company, announced on the 10th that it has successfully entered the seawater desalination market through its subsidiary Hanseong Cleantec.

Hanseong Cleantec, an EPC company specializing in ultrapure water treatment facilities, recently secured a seawater desalination plant contract worth $7.8 million (approximately 8.8 billion KRW) from HK (Hutama Karya), Indonesia's largest state-owned enterprise.

Starting with this order, Hanseong Cleantec plans to expand its desalination business into the New Southern countries with ASEAN member states. These New Southern countries are experiencing rapid growth in water resource infrastructure projects, including water treatment facilities, and collaboration requests from these countries continue to increase.

The company plans to participate in domestic desalination projects scheduled for the second half of the year, alongside expanding its overseas market, raising expectations for continuous additional orders. This diversification and expansion of new businesses are also expected to be reflected in the company’s performance.

Lee Jung-seop, CEO of Hanseong Cleantec, stated, “Not only in the desalination business but also by utilizing the water treatment technologies the company possesses, entry into various new business fields is becoming visible. Furthermore, based on the EPC business, which has been the core driving force behind the company’s growth, we are preparing to enter the O&M business that directly operates and manages water treatment facilities, not only design and construction. Through the O&M business, we expect stable sales and profits.”

E&C Corporation plans to grow into the number one company in the industrial water treatment sector this year by continuously expanding related companies, including acquiring Inbaotech’s Dangjin plant, which holds comprehensive permits for liquid waste treatment, as well as Hanseong Cleantec.