Xylem Inc. ( XYL ) is edging up on news it has won a "significant" contract to treat municipal drinking water for a new high-tech industrial zone in South Korea. The contract will involve using ultraviolet (UV) advanced oxidation process (AOP) technology for the first time in a municipal drinking water system in the country.
The water treatment facility will treat more than 26 million gallons per day, and will be the first step in the development of the new $3 billion Sihwa Multi-Tech Valley project, a government-backed regional industrial development initiative being implemented by the K-Water municipality. The new hub for the enterprise is due to be completed by 2016.
Specific terms of the deal were not disclosed.
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