CITIC Envirotech (CEL) has secured a 474 million yuan (S$94.9 million) industrial hazardous waste treatment project in Linfen City, Shanxi province, China.
The project involves the design, construction and operation of a 30,000 tonnes/year industrial hazardous waste treatment plant, a 30,000 tonnes/year incineration plant and a 60,000 tonnes/year landfill.
The proposed hazardous waste treatment facility is in the Yaodu District Industrial Park and will occupy a land area of 215,000 square metres.
A project company, Novo Envirotech (Linfen) will be formed by CEL and Shandong Zhengtian Environmental Technology Co to invest in the project. CEL will have an 80 per cent shareholding.
Shandong Zhengtian is a company engaged in air pollution prevention, heavy metal sewage treatment and solid waste treatment. The paid-up capital for the project company is 90 million yuan.
The project will commence immediately and is targeted to be completed in 18 months.
The capital injection for the above investment is from internal resources and bank financing.