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Keppel unit bags HKD 31billion contract for Hong Kong's first integrated waste management facility
Keppel Infrastructure Holdings' wholly owned subsidiary Keppel Seghers Hong Kong, together with Zhen Hua Engineering Co, have signed a HKD 31 billion contract with the Environmental Protection Department (EPD) of the Government of the Hong Kong Special Administrative Region to design, build and operate Hong Kong's first Integrated Waste Management Facility (IWMF).
The contract for the facility was awarded via a competitive international tender called by the EPD. It will be located off the coast of Shek Kwu Chau and south of Lantau Island, Hong Kong.
As a key part of Hong Kong's waste management strategy, the facility is able to reduce the total volume of waste treated at the facility by more than 90 per cent, thus extending the lifespan of landfills. Currently, Hong Kong landfills its non-recycled waste. The facility is expected to be completed in 2024.
The agreement was signed by Chui Ho Kwong, Assistant Director (Nature Conservation & Infrastructure Planning) of EPD, Jackson Goh, Director of Keppel Seghers Hong Kong, and Su Yan Song, Managing Director of Zhen Hua Engineering.
Keppel Infrastructure is a wholly-owned subsidiary of Keppel Corporation, while Zhen Hua Engineering is a wholly-owned subsidiary of China Harbour Engineering Company Limited. The above contract is not expected to have any significant impact on the earnings per share and net tangible asset per share of Keppel Corporation for the current financial year.